全球智库信息集成服务系统(G2TT): DP15467 The Stability and Predictive Power of Financial Literacy: Evidence from Longitudinal Data

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP15467
	DP15467 The Stability and Predictive Power of Financial Literacy: Evidence from Longitudinal Data
	Marco Angrisani; Jeremy Burke; Annamaria Lusardi; Gary Mottola
发表日期	2020-11-18
出版年	2020
语种	英语
摘要	We administered the FINRA Foundation’s National Financial Capability Study questionnaire to members of the RAND American Life Panel (ALP) in 2012 and 2018. Using this unique, longitudinal data set, we investigate the evolution of financial literacy over time and shed light on the causal effect of financial knowledge on financial outcomes. Over a six-year observation period, financial literacy appears to be rather stable, with a slight tendency to decline at older ages. Moreover and importantly, financial literacy has significant predictive power for future financial outcomes, even after controlling for baseline outcomes and a wide set of demographics and individual characteristics that influence financial decision making. This estimated relationship is significantly stronger for older individuals, for women, and for those with lower income than for their counterparts in the study. Altogether, our findings suggest that differences in the stock of financial knowledge may lead to increasing inequality over the life course.
主题	Financial Economics
关键词	Financial literacy Personal finance Financial well-being
URL	https://cepr.org/publications/dp15467
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/544464
推荐引用方式 GB/T 7714	Marco Angrisani,Jeremy Burke,Annamaria Lusardi,et al. DP15467 The Stability and Predictive Power of Financial Literacy: Evidence from Longitudinal Data. 2020.