What does financial literacy training teach us?

Autor/inn/en	Carlin, Bruce Ian; Robinson, David T.
Titel	What does financial literacy training teach us?
Quelle	Cambridge, Mass. (2010), 33 S. PDF als Volltext kostenfreie Datei Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper series. 16271
Sprache	englisch
Dokumenttyp	online; gedruckt; Monographie; Graue Literatur
Schlagwörter	Bildungsverhalten; Wissen; Finanzmarkt; Investition; Konsument; Konsumverhalten; Sparen; Arbeitspapier; USA
Abstract	"This paper uses a quasi natural experiment to explore how financial education changes savings, investment, and consumer behavior. We use data from a Junior Achievement Finance Park to measure the effect of a financial literacy program on students who are assigned fictitious life situations and asked to create household budgets for these roles. The treatment effects of the financial literacy program are strong. Students who experienced training were somewhat better at making current-cost/current-benefit tradeoff decisions (spending more today versus spending less today). But the tendency to try to save more today often led them to make poor choices when they faced tradeoffs between current-costs and future-benefits today (i.e., when spending more today is cheaper in present value terms). Most importantly, students who had attended training showed greater up-take of decision support that was offered in the park. This indicates that decision support and financial literacy training are complements, not substitutes"--National Bureau of Economic Research web site.
Erfasst von	ZBW - Leibniz-Informationszentrum Wirtschaft, Kiel
Update	2011/2