Financial knowledge, attitude and behavior: evidence from the Austrian Survey of Financial Literacy
| Autor: | Maria Antoinette Silgoner, Pirmin Fessler, Rosa Weber |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
Selection bias
Finance Mediation (statistics) business.industry media_common.quotation_subject 05 social sciences Geography Planning and Development Instrumental variable Development Newspaper Reading (process) 0502 economics and business Economics Survey data collection Financial literacy 050207 economics business 050205 econometrics Public finance media_common |
| Zdroj: | Empirica. 47:929-947 |
| ISSN: | 1573-6911 0340-8744 |
| Popis: | This paper provides an in-depth analysis of the links between financial knowledge, attitude and behavior, based on the Austrian contribution to the OECD/INFE survey on financial literacy. Our analysis gives evidence of causal effects of financial knowledge on financial behavior, using a new instrument based on respondents’ newspaper reading habits. We confirm that the selection bias is likely negative, i.e. we would underestimate the causal effect of knowledge on behavior in a classical regression setting. Furthermore, we provide mediation analyses, showing that about 13% of the causal effect of knowledge on behavior is mediated through financial attitude. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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