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Loose knots : strong versus weak commitments to save for education in Uganda
Karlan, Dean; Linden, Leigh L. - 2014
, weaker restrictions may be a more effective means of changing behavior. We test this using a school-based commitment savings … which savings are available for cash withdrawal but intended for educational expenses. The weaker commitment generates … increased savings in the program accounts and when combined with a parent outreach program, higher expenditures on educational …
Persistent link: https://www.econbiz.de/10010236461
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Predicting retirement savings using survey measures of exponential-growth bias and present bias
Goda, Gopi Shah; Levy, Matthew; Flaherty Manchester, … - 2018
In a nationally-representative sample, we predict retirement savings using survey-based elicitations of exponential … present over the future, are highly significant and economically meaningful predictors of retirement savings. These … calculations suggest that eliminating EGB and PB would increase retirement savings by approximately 12 percent. …
Persistent link: https://www.econbiz.de/10011902764
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The impact of education on the subjective discount rate in Ugandan villages
Bauer, Michal; Chytilová, Julie - 2009
Heterogeneity in time discounting may reinforce the existing barriers to save and invest faced by rural populations in developing countries. We elicit a subjective discount rate for a varied sample of Ugandan villagers. In accordance with other studies, we have found the discount rate to...
Persistent link: https://www.econbiz.de/10003824853
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The response of consumption in Russian households to economic shocks
Stillman, Steven - 2001
changes in household savings are negatively related to exogenous income shocks, with this relationship strongest for low … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …
Persistent link: https://www.econbiz.de/10011405709
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Can a mobile-app-based behavioral intervention teach financial skills to youth? : experimental evidence from a financial diaries study
Frisancho Robles, Verónica; Herrera, Alejandro; Prina, … - 2023
effects on financial literacy and awareness of market prices. The probability of saving and savings deposits are not affected …
Persistent link: https://www.econbiz.de/10014311951
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The impact of high school financial education on financial knowledge and choices : evidence from a randomized trial in Spain
Bover, Olympia; Hospido, Laura; Villanueva, Ernesto - 2018
We conducted a randomized controlled trial where 3,000 9th grade students coming from 78 high schools received a financial education course at different points of the year. Right after the treatment, test performance increased by 16% of one standard deviation, treated youths were more likely to...
Persistent link: https://www.econbiz.de/10011785792
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Who is a passive saver under opt-in and auto-enrollment?
Goda, Gopi Shah; Levy, Matthew; Flaherty Manchester, … - 2019
Defaults have been shown to have a powerful effect on retirement saving behavior yet there is limited research on who is most affected by defaults and whether this varies based on features of the choice environment. Using administrative data on employer-sponsored retirement accounts linked to...
Persistent link: https://www.econbiz.de/10012056946
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Exponential growth bias and financial literacy
Almenberg, Johan; Gerdes, Christer - 2011
The tendency to underestimate the future value of a variable growing at a constant rate, an example of exponential growth bias, has been linked to household financial decision making. We show that exponential growth bias and standard measures of financial literacy are negatively correlated in a...
Persistent link: https://www.econbiz.de/10009310180
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Financial education affects financial knowledge and downstream behaviors
Kaiser, Tim; Lusardi, Annamaria; Menkhoff, Lukas; … - 2020
We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment...
Persistent link: https://www.econbiz.de/10012206609
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Financial literacy and financial education : an overview
Kaiser, Tim; Lusardi, Annamaria - 2024
This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects of financial literacy on...
Persistent link: https://www.econbiz.de/10014517051