Reinhart, Carmen M. and Rogoff, Kenneth (2009) This Time is Different: Eight Centuries of Financial Folly. Princeton University Press

This study uses a combined measure of financial literacy or financial knowledge that includes both a test score of actual financial knowledge and a self-assessment of overall financial knowledge. The combined measure provides greater understanding about how financial knowledge affects financial...

A combined measure of financial literacy that includes both a test score of actual financial literacy and a self-rating of overall financial literacy is used in this study. We find that the combined measure provides greater understanding about how financial literacy affects financial behaviors....