Arbeitspapier
Financial literacy externalities
This paper uses unique administrative data and a quasi-field experiment of exogenous allocation of refugees in Sweden to estimate effects of exposure to financially literate neighbors on household financial behavior. The paper contributes evidence of a causal impact of financial literacy on behavior and points to a social multiplier of financial education initiatives. Exposure promotes saving for retirement in the medium run and stockholding in the longer run, more so when neighbors have economics or business education. Significant effects are only observed on educated or male-headed households. Findings point strongly to transfer of knowledge rather than mere imitation. They are relevant both for financial education and for refugee placement policies.
- Language
-
Englisch
- Bibliographic citation
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Series: Sveriges Riksbank Working Paper Series ; No. 333
- Classification
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Wirtschaft
Portfolio Choice; Investment Decisions
Macroeconomics: Consumption; Saving; Wealth
Household Saving; Personal Finance
International Migration
Education: Government Policy
- Subject
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Household finance
financial literacy
social interactions
refugees
- Event
-
Geistige Schöpfung
- (who)
-
Chaliasos, Micha¯el
Jansson, Thomas
Karabulut, Yigitcan
- Event
-
Veröffentlichung
- (who)
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Sveriges Riksbank
- (where)
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Stockholm
- (when)
-
2016
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Chaliasos, Micha¯el
- Jansson, Thomas
- Karabulut, Yigitcan
- Sveriges Riksbank
Time of origin
- 2016
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