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-to-income ratio and the level of emergency savings for income shock. The findings of this paper show that, in addition to socio …Given the high and rising household debt in Malaysia, the objective of this paper is to ascertain the characteristics …-economic factors, other factors such as risk tolerance, savings portfolio, and individuals’ objectives and subjective financial …
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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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Chapter 1: Yes, Teachers Can Be Financially Fit -- Chapter 2: Spending and Saving: A Guide for Teachers -- Chapter 3: Earning Extra Income -- Chapter 4: Teachers’ Wheels: Cars and Transportation -- Chapter 5: Walls and a Roof: Housing for Teachers -- Chapter 6: Managing Credit and Debt --...
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We present an intertemporal portfolio choice model where individuals invest in financial literacy, save, allocate their wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return and the cost of stock market participation. Since...
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