Financial literacy and retirement planning in Germany
By: Tabea Bucher-Koenen, Annamaria Lusardi
Contributors: Lusardi, Annamaria; National Bureau of Economic Research
Series: NBER working paper series -- working paper 17110; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17110.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.  We examine financial literacy in Germany using data from the SAVE survey.  We find that knowledge of basic financial concepts is lacking among women, the less educated, and those living in East Germany.  In particular, those with low education and low income in East Germany have little financial literacy compared to their West German counterparts.  Interestingly, there is no gender disparity in financial knowledge in the East.  In order to investigate the nexus of causality between financial literacy and retirement planning, we develop an IV strategy by making use of regional variation in the financial knowledge of peers.  We find a positive impact of financial knowledge on retirement planning"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 8/30/2011.

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