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The Impact of Financial Education for Youth in Ghana

Berry, James; Karlan, Dean S.; Pradhan, Menno - C.E.P.R. Discussion Papers - 2015

We evaluate, using a randomized trial, two school-based financial literacy education programs in government-run primary and junior high schools in Ghana. One program integrated financial and social education, whereas the second program only offered financial education. Both programs included a...

Persistent link: https://www.econbiz.de/10011249377

Keeping it Simple: Financial Literacy and Rules of Thumb

Drexler, Alejandro; Fischer, Greg; Schoar, Antoinette S - C.E.P.R. Discussion Papers - 2010

Individuals and business owners engage in an increasingly complex array of financial decisions that are critical for their success and well-being. Yet a growing literature documents that in both developed and developing countries, a large fraction of the population is unprepared to make these...

Persistent link: https://www.econbiz.de/10008611017

Financial Education and Access to Savings Accounts: Complements or Substitutes? Evidence from Ugandan Youth Clubs

Jamison, Julian C.; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2014

Evidence on the effectiveness of financial education and formal savings account access is lacking, particularly for youth. We randomly assign 250 youth clubs to receive either financial education, access to a cheap group account, or both. The financial education treatments increase financial...

Persistent link: https://www.econbiz.de/10011084404

Consumption Growth, the Interest Rate, and Financial Literacy

Jappelli, Tullio; Padula, Mario - C.E.P.R. Discussion Papers - 2013

We study a model in which financial sophistication improves portfolio returns and therefore the incentive to substitute consumption intertemporally. The model delivers a Euler equation in which consumption growth is positively correlated with financial sophistication. We test the model's...

Persistent link: https://www.econbiz.de/10011084488

Providing financial education: a general equilibrium approach

Padula, Mario; Pettinicchi, Yuri - C.E.P.R. Discussion Papers - 2013

Since the early 2000s, the importance of financial literacy for safe financial behaviors has increased in public debate and has been the motivation for several national and international institutions to launch and promote financial education initiatives. Although discussion on the effects of...

Persistent link: https://www.econbiz.de/10011084571

Investment in Financial Literacy and Saving Decisions

Jappelli, Tullio; Padula, Mario - C.E.P.R. Discussion Papers - 2011

We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...

Persistent link: https://www.econbiz.de/10008854546

How Much Can Financial Literacy Help?

Guiso, Luigi; Viviano, Eliana - C.E.P.R. Discussion Papers - 2013

We merge survey data on a sample of individual investors containing test-based measures of financial literacy with administrative records on their assets holding and trades before, during and after the financial crisis of September 2008. This dataset allows us to design three tests of the...

Persistent link: https://www.econbiz.de/10011083388

Financial Literacy and Savings Account Returns

Deuflhard, Florian; Georgarakos, Dimitris; Inderst, Roman - C.E.P.R. Discussion Papers - 2014

Savings accounts are owned by most households, but little is known about the performance of households’ investments. We create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data on account-specific interest rates and...

Persistent link: https://www.econbiz.de/10011083539

Time Inconsistent Preferences and the Annuitization Decision

Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015

When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...

Persistent link: https://www.econbiz.de/10011165648

Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt

McKenzie, David - C.E.P.R. Discussion Papers - 2014

macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in … the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business … microenterprises. However, insurance may still be of value to them to help cope with shocks when they do occur, but we are unable to …

Persistent link: https://www.econbiz.de/10011084029