Showing 1 - 10 of 271
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/10013122964
This study combines novel financial-literacy data with measures of attitudes to redistribution from the British Election Study. We find a significant negative relationship between financial literacy and attitudes in favour of government intervention for income redistribution. The effect is...
Persistent link: https://www.econbiz.de/10012960256
The economic and financial landscape facing individuals as they move through their life-cycle is becoming increasing complex. Internationally, declines in the coverage and generosity of public programmes mean that individuals now need to assume responsibility for a greater share of their future...
Persistent link: https://www.econbiz.de/10012870293
relationship between the gender gap in financial literacy and the gender gap in pension savings amongst non-retired adults aged 18 … where the focus is on pension savings and a more structural specification where the focus is on the "pension return" (the … ratio of pension savings to cumulative earnings). Oaxaca-Blinder decomposition analysis suggests that around 8.5 per cent of …
Persistent link: https://www.econbiz.de/10013406439
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10013119292
We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...
Persistent link: https://www.econbiz.de/10013071425
The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data …
Persistent link: https://www.econbiz.de/10013128748
We present the results of a randomized intervention in schools to study how teaching financial literacy affects risk and time preferences of adolescents. Following more than 600 adolescents, aged 16 years on average, over about half a year, we provide causal evidence that teaching financial...
Persistent link: https://www.econbiz.de/10012826243
Food insecurity is one of the most, if not the most, significant, nutrition-related public health issue confronted in the US. Unfortunately, we know very little about the determinants of food security except that it is not synonymous with poverty. Many households above the poverty line are food...
Persistent link: https://www.econbiz.de/10013016393
We estimate the impact on objective measures of financial literacy of a 10-hours financial education program among 15-year old students in compulsory secondary schooling. We use a matched sample of students and teachers in Madrid and two different estimation strategies. Firstly, we use...
Persistent link: https://www.econbiz.de/10013025869