| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9882 |
| DP9882 Financial Literacy and Savings Account Returns | |
| Roman Inderst; Dimitris Georgarakos | |
| 发表日期 | 2014-03-16 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Savings accounts are owned by most households, but little is known about the performance of households? investments. We create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data on account-specific interest rates and characteristics. We document considerable heterogeneity in returns across households, which can be partly explained by financial sophistication. A one-standard deviation increase in financial literacy is associated with a 13% increase compared to the median interest rate. We isolate the usage of modern technology (online accounts) as one channel through which financial literacy has a positive association with returns. |
| 主题 | Financial Economics |
| 关键词 | Financial literacy Household finance Interest rates Savings accounts |
| URL | https://cepr.org/publications/dp9882 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538716 |
| 推荐引用方式 GB/T 7714 | Roman Inderst,Dimitris Georgarakos. DP9882 Financial Literacy and Savings Account Returns. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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