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Financial literacy, stock market participation, and financial well-being in Germany
Bucher-Koenen, Tabea; Janssen, Bennet; Knebel, Caroline; … - 2023
We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...
Persistent link: https://www.econbiz.de/10014504767
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Risk Tolerance and Goals-Based Savings Behavior of Households : The Role of Financial Literacy
Chatterjee, Swarn - 2017
-based savings behavior of households. The results indicate that three out of five households do not have any emergency funds set … financial literacy and risk tolerance are associated with goals-based savings behavior, such as saving for emergencies, and …
Persistent link: https://www.econbiz.de/10012962957
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Financial Literacy and Saving for Retirement among Kenyan Households
Schützeichel, Teresa - 2019
In this paper I examine financial literacy and saving for retirement in Kenya using the household survey of 2016 from FinAccess Kenya. I use probit regressions to determine the effect financial literacy has on individuals saving regularly as well as saving for retirement. My findings show that...
Persistent link: https://www.econbiz.de/10012889942
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Financial literacy : Thai middle class women do not lag behind
Grohmann, Antonia; Hübler, Olaf; Kouwenberg, Roy; … - 2016
This research studies the stylized fact of a "gender gap" in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap. This result is not explained by men's low financial literacy, nor by women's high income and...
Persistent link: https://www.econbiz.de/10011553048
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Saving for Retirement - A Case for Financial Education in Germany and UK? An Economic Perspective
Oehler, Andreas - 2010
Demographic changes, tight public budgets, and reduced generosity of occupational pension plans shift the responsibility for an adequate retirement provision towards the individual. Applying the theoretical perspectives of Behavioural Finance and New Institutionalism to the domain of retirement...
Persistent link: https://www.econbiz.de/10013139316
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How Does Financial Literacy Affect the Savings Decision?
Brockman, Paul - 2015
Savings decisions are essential in reallocating income across periods but understanding this concept may be mired by … low levels of financial literacy. We survey individuals to identify the role of financial literacy in savings rates. We … note differences in financial literacy and savings rates between genders and across age groups and income levels. We show …
Persistent link: https://www.econbiz.de/10013014585
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Confidence, Financial Literacy and Investment in Risky Assets : Evidence from the Survey of Consumer Finances
Cupák, Andrej - 2020
We employ recent Survey of Consumer Finances (SCF) microdata from the US to analyze the impacts of confidence in one's own financial knowledge, confidence in the economy, and objective financial literacy on investment in risky financial assets (equity and bonds) on both the extensive and...
Persistent link: https://www.econbiz.de/10012834179
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Financial Literacy and Retirement Planning in Canada
Boisclair, David - 2015
retirement savings …
Persistent link: https://www.econbiz.de/10013025530
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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 school-based financial education on high school students and their teachers : experimental evidence from Peru
Frisancho Robles, Verónica - 2018
Using data from a randomized controlled trial in 300 public high schools in Peru, this paper studies the potential of school-based financial education programs for youth. The intervention improves students’ and teachers’ financial knowledge by 0.14 SD and 0.32 SD, respectively. The impact of...
Persistent link: https://www.econbiz.de/10011882060