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Banks Information Policies, Financial Literacy and Household Wealth

Fort, Margherita; Manaresi, Francesco; Trucchi, Serena - Institute for the Study of Labor (IZA) - 2012

. We show that these policies have a positive and significant effect on both knowledge of financial instruments and …

Persistent link: https://www.econbiz.de/10010959735

The Impact of Health Insurance on Stockholding: A Regression Discontinuity Approach

Christelis, Dimitris; Georgarakos, Dimitris; … - Institute for the Study of Labor (IZA) - 2014

Using data from the US Health and Retirement Study, we study the causal effect of increased health insurance coverage through Medicare and the associated reduction in health-related background risk on financial risk-taking. Given the onset of Medicare at age 65, we identify our effect of...

Persistent link: https://www.econbiz.de/10011078405

Homeownership and Entrepreneurship: The Role of Commitment and Mortgage Debt

Bracke, Philippe; Hilber, Christian; Silva, Olmo - Institute for the Study of Labor (IZA) - 2013

We study the link between homeownership and entrepreneurship using a model of occupational choice and housing tenure where homeowners commit a fixed budget to mortgage payments. Our model predicts that: (i) mortgage commitments, by amplifying risk aversion, diminish the likelihood that...

Persistent link: https://www.econbiz.de/10010665153

Discounting Financial Literacy: Time Preferences and Participation in Financial Education Programs

Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2008

Many policy makers 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...

Persistent link: https://www.econbiz.de/10005761687

Exponential Growth Bias and Financial Literacy

Almenberg, Johan; Gerdes, Christer - Institute for the Study of Labor (IZA) - 2011

The tendency to underestimate the future value of a variable growing at a constant rate, an example of exponential growth bias, has been linked to household financial decision making. We show that exponential growth bias and standard measures of financial literacy are negatively correlated in a...

Persistent link: https://www.econbiz.de/10009151027

"High"-School: The Relationship between Early Marijuana Use and Educational Outcomes

Cobb-Clark, Deborah A.; Kassenboehmer, Sonja C.; Le, Trinh - Institute for the Study of Labor (IZA) - 2013

We use unique survey data linked to nearly a decade of administrative welfare data to examine the relationship between early marijuana use (at age 14 or younger) and young people's educational outcomes. We find evidence that early marijuana use is related to educational penalties that are...

Persistent link: https://www.econbiz.de/10011156470

Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets

Black, Sandra E.; Devereux, Paul J.; Lundborg, Petter; … - Institute for the Study of Labor (IZA) - 2015

markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people … spouses or children. …

Persistent link: https://www.econbiz.de/10011206862

Present-Biased Preferences and Credit Card Borrowing

Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2009

Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...

Persistent link: https://www.econbiz.de/10004980269

Finance for All: The Impact of Financial Literacy Training in Compulsory Secondary Education in Spain

Hospido, Laura; Villanueva, Ernesto; Zamarro, Gema - Institute for the Study of Labor (IZA) - 2015

knowledge of students in treatment and control schools. In another specification, we use school fixed-effect estimates of the … effect of the course on change in the score in tests of financial knowledge. The program increased treated students …' financial knowledge by between one fourth and one third of a standard deviation. We uncover heterogeneous effects, as students …

Persistent link: https://www.econbiz.de/10011206857

Making Work Pay for the Indebted: The Effect of Debt Services on the Exit Rates of Unemployed Individuals

Koning, Pierre - Institute for the Study of Labor (IZA) - 2013

This paper investigates the effectiveness of an intervention that was targeted at a specific group of Dutch Social Assistance (SA) recipients with debt problems. With a large share of the income gains of work resumption were transferred to the creditors, these individuals experienced a strong a...

Persistent link: https://www.econbiz.de/10010734430