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Economists are beginning to investigate the causes and consequences of financial illiteracy to better understand why retirement planning is lacking and why so many households arrive close to retirement with little or no wealth. Our review reveals that many households are unfamiliar with even the...
Persistent link: https://www.econbiz.de/10010298364
for an analysis of financial literacy and retirement planning. It allows us to evaluate financial knowledge during workers … compare respondents' self-assessed financial knowledge levels with objective measures of financial literacy, and most valuably …
Persistent link: https://www.econbiz.de/10010298382
Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This...
Persistent link: https://www.econbiz.de/10010298386
Persistent link: https://www.econbiz.de/10010298401
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...
Persistent link: https://www.econbiz.de/10010298402
by exploiting information about respondent financial knowledge acquired in school. Results show that those with more … advanced financial knowledge are those more likely to be retirement-ready. …
Persistent link: https://www.econbiz.de/10010303685
Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest …
Persistent link: https://www.econbiz.de/10010303705
productivity. We show that long-run growth estimates based on filtering U.S. productivity data comove strongly with long …-horizon survey expectations. By simulating the model in which agents filter data on U.S. productivity growth, we closely match the U …
Persistent link: https://www.econbiz.de/10010308571
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...
Persistent link: https://www.econbiz.de/10010298252
whether individuals have the financial knowledge and skills to navigate this new financial environment. To better understand … Survey. We have designed questions to measure numeracy and basic knowledge related to the working of inflation and interest … rates, as well as questions to measure more advanced financial knowledge related to financial market instruments (stocks …
Persistent link: https://www.econbiz.de/10010298376