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Saturday, May 19 • 9:45am - 11:15am
F3b-The Explanatory Power of Financial Literacy on Consumer Financial Behaviors: New Evidences from Europe

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Gianni Nicolini, Marlene Haupt - The paper addresses the assessment of the financial literacy. Using brand new data from a research project that involves several European countries (the UK, Germany, France, Italy, Spain, and Sweden) the common measures of financial literacy based on the Lusardi-Mitchell questions are compared with measures based on a more generous number of items (50) and topic-based measures in order to better understand the relationship between the financial literacy and consumers' financial behaviors. Different measures of financial literacy are related to different financial behaviors (the presence of stocks or mutual funds in investment portfolios; saving for rainy days; retirement planning; use of credit cards). Results provide useful insight for both academics and consumer protection bureaus that deal with financial literacy and financial education issues.

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Gianni Nicolini

Associate Professor, University of Rome "Tor Vergata"

Saturday May 19, 2018 9:45am - 11:15am
Sand Key

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