The economic importance of financial literacy: theory and evidence: Theory and evidence

This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research, which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfa...

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Bibliographic Details
Published in:Journal of economic literature 2014-03, Vol.52 (1), p.5-44
Main Authors: Lusardi, Annamaria, Mitchell, Olivia S
Format: Article
Language:English
Subjects:
Baby boomers
Certificates of deposit
Compound interest
Consumer protection
Credit cards
Decision making
Economic costs
Economic models
Economic research
Economic statistics
Economic theory
Economics
Financial investments
Financial literacy
Finanzwesen
Human capital
Illiteracy
Investment
Investments
Knowledge
Literacy
Numeracy
Pension plans
Pensions
Personal finance
Political economy
Population policy
Public policy
Recht
Retirement
Retirement planning
Savings
Securities markets
Studies
Tax refunds
Treasuries
U.S.A
Welfare
Wirtschaft
Working papers
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