| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17339 |
| 来源ID | Working Paper 17339 |
| Financial Literacy, Retirement Planning, and Household Wealth | |
| Maarten van Rooij; Annamaria Lusardi; Rob J. Alessie | |
| 发表日期 | 2011-08-18 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | There is ample empirical evidence documenting widespread financial illiteracy and limited pension knowledge. At the same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no personal assets. In this paper, we investigate the relationship between financial literacy and household net worth, relying on comprehensive measures of financial knowledge designed for a special module of the Dutch Central Bank Household Survey (DHS). Our findings provide evidence of a strong positive association between financial literacy and net worth, even after controlling for many determinants of wealth. Moreover, we discuss two channels through which financial literacy might facilitate wealth accumulation. First, financial knowledge increases the likelihood of investing in the stock market, allowing individuals to benefit from the equity premium. Second, financial literacy is positively related to retirement planning, and the development of a savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a strong link to household wealth. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w17339 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575013 |
| 推荐引用方式 GB/T 7714 | Maarten van Rooij,Annamaria Lusardi,Rob J. Alessie. Financial Literacy, Retirement Planning, and Household Wealth. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17339.pdf（177KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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