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We explore the interrelationships between various measures of cultural distance. We first discuss measures of genetic distance, used in the recent economics literature to capture the degree of relatedness between countries. We next describe several classes of measures of linguistic, religious,...
Persistent link: https://www.econbiz.de/10013021474
The majority of lower socioeconomic status (SES) households do not have any stock investments, which is detrimental to wealth accumulation. Here, we examine one potential driver of this puzzling fact, namely, that SES may influence the process by which people learn from information in financial...
Persistent link: https://www.econbiz.de/10013021881
) students in a particular elementary grade and language is twenty or higher. Using school panel data, we find a significant … significantly impact the standardized test scores of students with Spanish as their home language (comprised primarily of ever …-LEP students). However, there are significant positive spillover effects to their non-LEP peers …
Persistent link: https://www.econbiz.de/10013104394
This study investigates how being exposed to a field of study influences students' major choices. We exploit a natural … experiment at a Swiss university where all first-year students face largely the same curriculum before they choose a major. An … important component of the first-year curriculum that varies between students involves a multi-term research paper in business …
Persistent link: https://www.econbiz.de/10013023345
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could...
Persistent link: https://www.econbiz.de/10013130966
Workers nearing retirement face many important, and often irreversible, choices. We collected detailed demographic and financial literacy data on over 1,500 workers nearing retirement at three large companies to assess how individuals are planning for retirement. Many respondents display limited...
Persistent link: https://www.econbiz.de/10013134999
This paper uses data from the Health and Retirement Study to explore the mechanism that underlies the robust relation found in the literature between cognitive ability, and in particular numeracy, and wealth, income constant. We have a number of findings. First, the more valuable the pension,...
Persistent link: https://www.econbiz.de/10013136556
Financial literacy and schooling attainment have been linked to household wealth accumulation. Yet prior findings may be biased due to noisy measures of financial literacy and schooling, as well as unobserved factors such as ability, intelligence, and motivation that could enhance financial...
Persistent link: https://www.econbiz.de/10013137029
behavior. We use data from a Junior Achievement Finance Park to measure the effect of a financial literacy program on students … of the financial literacy program are strong. Students who experienced training were somewhat better at making current … today is cheaper in present value terms). Most importantly, students who had attended training showed greater up-take of …
Persistent link: https://www.econbiz.de/10013139151
This paper characterizes heterogeneity of the beliefs of American households about future stock market returns, provides an explanation for that heterogeneity and establishes its relationship to stock holding behavior. We find substantial belief heterogeneity that is puzzling since households...
Persistent link: https://www.econbiz.de/10013118132