The importance of financial knowledge on efficient investment behaviors is well known. However, few studies have examined the relationship between financial literacy and investment behaviors under different economic situations. Using the 2007–2016 Fund Investors Survey from South Korea, we...

Using a longitudinal data set from South Korea, we estimate the impact of housing wealth on labor supply and the retirement behavior of elderly workers. Estimation results from our model suggest that house wealth variations significantly influence the labor supply of older workers. The housing...

We investigate the heterogeneous effects of financial literacy on individual investment decisions during and after the 2008 financial crisis. While differentiating objective and subjective financial knowledge, we find that only subjective knowledge is positively related to participation in...