The Economic Importance of Financial Literacy: Theory and Evidence<xref ref-type="fn" rid="f1" ptype="fjel5215" citart="citart1"><sup></sup></xref>
نویسندگان
چکیده
F markets around the world have become increasingly accessible to the “small investor,” as new products and financial services grow widespread. At the onset of the recent financial crisis, consumer credit and mortgage borrowing had burgeoned. People who had credit cards or subprime mortgages were in the historically unusual position of being able to decide how much they wanted to borrow. Alternative financial * Lusardi: George Washington University. Mitchell: University of Pennsylvania. The research reported herein was performed pursuant to a grant from the TIAA–CREF Institute; additional research support was provided by the Pension Research Council and Boettner Center at the Wharton School of the University of Pennsylvania. The authors thank Janet Currie, Tabea Bucher-Koenen, Pierre-Carl Michaud, Maarten van Rooij, and Stephen Utkus for suggestions and comments, and Carlo de Bassa Scheresberg, Hugh Kim, Donna St. Louis, and Yong Yu for research assistance. Opinions and conclusions expressed herein are solely those of the authors and do not represent the opinions or policy of the funders or any other institutions with which the authors are affiliated. † Go to http://dx.doi.org/10.1257/jel.52.1.5 to visit the article page and view author disclosure statement(s). The Economic Importance of Financial Literacy: Theory and Evidence†
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تاریخ انتشار 2014