Pahnke, Luise and Honekamp, Ivonne (2010): Different Effects of Financial Literacy and Financial Education in Germany.
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Financial literacy or “what consumers know about finance” has become part of the scientific discussion in recent years. In Germany, as in many other countries, the structure of social security benefits has changed substantially. Using the German SAVE study conducted by the Mannheim Institute for the Economics of Aging, in this paper financial literacy in Germany is measured and its effect on private retirement provisions is examined. Therefore, the SAVE data is empirically analysed whether financial literacy has an impact on the retirement savings decision in Germany. With our analysis we were able to prove that financial literacy encourages individual retirement planning for households with an above-average income.
|Item Type:||MPRA Paper|
|Original Title:||Different Effects of Financial Literacy and Financial Education in Germany|
|English Title:||Different Effects of Financial Literacy and Financial Education in Germany|
|Keywords:||Financial literacy, Retirement savings, Private pensions, Germany, SAVE|
|Subjects:||D - Microeconomics > D1 - Household Behavior and Family Economics > D14 - Personal Finance|
|Depositing User:||Ivonne Honekamp|
|Date Deposited:||27. May 2010 01:03|
|Last Modified:||12. Feb 2013 15:14|
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