Financial Literacy and Perceived Economic Outcomes

IF 1.5 Q2 SOCIAL SCIENCES, MATHEMATICAL METHODS Statistics and Public Policy Pub Date : 2019-03-26 DOI:10.1080/2330443X.2022.2086191
David Puelz, R. Puelz
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引用次数: 1

Abstract

Abstract We explore the relationship between financial literacy and self-reported, reflective economic outcomes from respondents using survey data from the United States. Our dataset includes a large number of covariates from the National Financial Capability Study (NFCS), widely used by literacy researchers, and we use a new econometric technique developed by Hahn et al., designed specifically for causal inference from observational data, to test whether changes in financial literacy infer meaningful changes in self-perceived economic outcomes. We find a negative treatment parameter on financial literacy consistent with the recent work of Netemeyer et al. and contrary to the presumption in many empirical studies that associate standard financial outcome measures with financial literacy. We conclude with a discussion of heterogeneity of the financial literacy treatment effect on household income, gender, and education level sub-populations. Our findings on the relationship between financial literacy and reflective economic outcomes also raise questions about its importance to an individual’s financial well-being.
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金融素养与感知的经济成果
摘要我们利用美国的调查数据,探讨了金融素养与受访者自我报告、反映的经济结果之间的关系。我们的数据集包括识字研究人员广泛使用的国家财政能力研究(NFCS)中的大量协变量,我们使用Hahn等人开发的一种新的计量经济技术,专门用于从观测数据中进行因果推断,以测试财政识字率的变化是否会推断出自我感知经济结果的有意义的变化。我们发现,金融素养的负面处理参数与Netemeyer等人最近的工作一致。与许多将标准金融结果指标与金融素养联系起来的实证研究中的假设相反。最后,我们讨论了金融素养待遇对家庭收入、性别和教育水平亚人群影响的异质性。我们关于金融素养和反思性经济结果之间关系的研究结果也引发了人们对其对个人金融福祉重要性的质疑。
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来源期刊
Statistics and Public Policy
Statistics and Public Policy SOCIAL SCIENCES, MATHEMATICAL METHODS-
CiteScore
3.20
自引率
6.20%
发文量
13
审稿时长
32 weeks
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