Newsmakers

Meir Statman, Glenn Klimek Professor of Finance was featured on an episode of NPR's Marketplace about low gas prices.

An excerpt from the clip:

Consumers’ income level is likely to determine how they use the money they've been saving on gasoline, according to finance professor Meir Statman at Santa Clara University.

“For people with higher incomes — $500 [spread] over a year is not something they necessarily notice,” Statman said.

Statman said low-income workers who live paycheck-to-paycheck will notice the savings immediately in their monthly budget, and they're likely to shift the extra money immediately to cover other necessities that are rising in cost, including rent, medical care and car insurance.

Find the full clip here.

Learn more about Professor Meir Statman.