Sheffield Household Finance Research Group

Photo of man and woman working on a calculator at home

The Sheffield Household Finance Research Group empirically explores a range of aspects relating to household financial behaviours and outcomes.  The area of household finance has received an increased amount of attention over the past two decades and remains high on both policy and research agendas. 

We are committed to producing real world empirical evidence relating to policy relevant research questions. Members of the Household Finance Research Group have expertise in the following areas: 

  • Financial portfolio allocations
  • Household debt accumulation and saving decisions
  • Intersections between the macro-economy and household finances
  • Poverty and inequality
  • Subjective financial position

Household Finance Workshop Series:  

These biennial workshops bring together world leading researchers in the area of household finances.  The next workshop is due to be held in 2023. 

Programme: Household Finance Workshop 2019

Programme: Household Finance Workshop 2017

Research group leader:

Daniel Gray

Academic staff: 

Karl Taylor

Alberto Montagnoli

Pamela Lenton

Sarah Brown

Raslan Alzuabi

Gurleen Popli

Mallory Yeromonahos

Recent publications

Görtz C and Mallory Yeromonahos (2022) Asymmetries in risk premia, macroeconomic uncertainty and business cyclesJournal of Economic Dynamics and Control, 137.

Alzuabi R, Sarah Brown, Daniel Gray, Harris M & Spencer C (2021) Household saving, health, and healthcare utilization in JapanOxford Economic Papers, 74(2), 473-497.

Sarah Brown, Ghosh P, Pareek B & Karl Taylor (2021) The protective role of saving: Bayesian analysis of British panel dataJournal of Empirical Finance, 63, 57-72.

Sarah Brown, Gosh P, Daniel Gray, Pareek B & Roberts J (2021) Saving behaviour and health: A high-dimensional Bayesian analysis of British panel dataThe European Journal of Finance, 27(16), 1581-1603.

Sarah Brown, Daniel Gray, Harris MN & Spencer C (2021) Household portfolio allocation, uncertainty, and riskJournal of Empirical Finance, 63, 96-117.

Sarah Brown, Kontonikas A, Alberto Montagnoli, Moro M & Onnis L (2021) Life satisfaction and austerity: Expectations and the macroeconomyJournal of Behavioral and Experimental Economics, 95, 1-11.

Daniel Gray, Alberto Montagnoli & Moro M (2021) Does education improve financial behaviors? Quasi-experimental evidence from BritainJournal of Economic Behavior and Organization, 183, 481-507.

Sarah Brown, Daniel Gray & Alberto Montagnoli (2019) Credit supply shocks and household leverage: Evidence from the US banking deregulation, Journal of Financial Stability, 43, 97-115. 

Cao, Y, Gregory-Smith, I, & Alberto Montagnoli (2018). Transmission of liquidity shocks: Evidence on cross-border bank ownership linkagesJournal of International Financial Markets, Institutions and Money53, 158-178.

Alberto Montagnoli, & Moro, M (2018). The cost of banking crises: New evidence from life satisfaction dataKyklos71(2), 279-309.

Dickerson A & Gurleen Popli (2017) The Many Dimensions of Child Poverty: Evidence from the UK Millennium Cohort StudyFiscal Studies, 41(4), 851-881.

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