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This paper examines financial literacy in Canada using a dataset from early 2023 that measures the knowledge of middle-aged Canadians regarding their retirement income system. We first document important financial literacy differences across gender, age, education, and labor market status. Using...
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in the reforming country, employed workers increase their precautionary savings to compensate for reduced government …-provided insurance. A portion of these additional savings flows to the non-reforming country and depresses long-term consumption due to … aggregate savings and net foreign assets, the increase of net exports, the real exchange rate depreciation within the Eurozone …
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In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded … savings to the host country. This paper suggests a framework to correct for this misleading attribution and applies this … concept to Germany. For the years 2012 to 2020, our corrections retrospectively reduce German savings and consequently the …
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