Financial Literacy, Financial Education, and Economic Outcomes
نویسندگان
چکیده
منابع مشابه
Financial Literacy, Financial Education and Economic Outcomes.
In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides i...
متن کاملFinancial Literacy and Economic Outcomes: Evidence and Policy Implications.
This paper reviews what we have learned over the past decade about financial literacy and its relationship to financial decision-making around the world. Using three questions, we have surveyed people in several countries to determine whether they have the fundamental knowledge of economics and finance needed to function as effective decision-makers. We find that levels of financial literacy ar...
متن کاملEducation Levels and Mortgage Application Outcomes: Evidence of Financial Literacy
This paper uses 2005 Home Mortgage Disclosure Act data aggregated by census tract to measure the relationship between census tract-level college completion rates and the rates at which first lien refinance mortgage applicants submit incomplete loan applications, withdraw loan applications before they are reviewed, and reject lender approved loan offers. This paper also explores the relationship...
متن کاملThe Economic Importance of Financial Literacy: Theory and Evidence.
This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population....
متن کاملDiscounting Financial Literacy: Time Preferences and Participation in Financial Education Programs
Many policymakers and economists argue that financial literacy is key to financial well‐being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to acquire financial information to a critical, and normally unobservable, characteristic: ti...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Annual Review of Economics
سال: 2013
ISSN: 1941-1383,1941-1391
DOI: 10.1146/annurev-economics-082312-125807