Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/320521 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 17927
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We examine the causal effect of education on financial outcomes related to stock markets and retirement savings, leveraging a major compulsory school reform and a unique data set covering the universe of investors in Türkiye. The estimates show no effects on participation rates, portfolio composition, or return performance. Moreover, education does not appear to influence behavioral biases or heuristics in retirement plans. The reform leads to a 3% increase in pension savings for females, with no significant effect on males. Higher earnings and increased employment with employer-sponsored pension plans appear as potential mechanisms driving the wealth effect.
Schlagwörter: 
Wealth
Retirement
Education
Investment Decisions
JEL: 
I21
I26
G11
G41
G50
G53
J32
Dokumentart: 
Working Paper

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Datei
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