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dc.contributor.authorLusardi, Annamariaen_US
dc.contributor.authorMitchell, Olivia S.en_US
dc.date.accessioned2008-03-12en_US
dc.date.accessioned2009-07-24T13:48:34Z-
dc.date.available2009-07-24T13:48:34Z-
dc.date.issued2007en_US
dc.identifier.piurn:nbn:de:hebis:30-51363-
dc.identifier.urihttp://hdl.handle.net/10419/25534-
dc.description.abstractThe present paper introduces a new dataset, the Rand American Life Panel (ALP), which offers several appealing features for an analysis of financial literacy and retirement planning. It allows us to evaluate financial knowledge during workers’ prime earning years when they are making key financial decisions, and it offers detailed financial literacy and retirement planning questions, permitting a finer assessment of respondents’ financial literacy than heretofore feasible. We can also compare respondents’ self-assessed financial knowledge levels with objective measures of financial literacy, and most valuably, we can investigate prior financial training which permits us to identify key causal links. By every measure, and in every sample we examine, financial literacy proves to be a key determinant of retirement planning. We also find that respondent literacy is higher when they were exposed to economics in school and to company-based financial education programs.en_US
dc.language.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2007/33en_US
dc.subject.jelD91en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial Literacyen_US
dc.subject.keywordRetirement Planningen_US
dc.subject.keywordFinancial Educationen_US
dc.subject.stwAlterssicherungen_US
dc.subject.stwKapitalanlageen_US
dc.subject.stwWissenen_US
dc.subject.stwUSAen_US
dc.titleFinancial literacy and retirement planning: New evidence from the Rand American Life Panelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn559754582en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:cfswop:200733-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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