The racial wealth gap is the largest of the economic disparities between Black and white
Americans, with a white-to-Black per capita wealth ratio of 6 to 1. It is also among the most …

In this survey, we review the voluminous body of literature on the measurement and the
determinants of financial literacy. Wherever possible, we supplement existing findings with …

In a meta-analysis of 126 impact evaluation studies, we find that financial education
significantly impacts financial behavior and, to an even larger extent, financial literacy …

Households age 60 and older bear increasing responsibility for managing retirement
portfolios, and they hold the majority of financial assets in the United States. Cognitive aging …

Focusing on different façades of financial well-being such as wealth accumulation and
retirement planning, various determinants of financial well-being have been unearthed, and …

How well older households manage their wealth holdings is an important determinant of
their financial security during retirement, yet little is known about their financial decision …

Financial literacy is a critical life skill that is essential for achieving financial security and
individual well-being, economic growth and overall sustainable development. Based on the …

A number of studies have provided evidence that formative experiences stemming from
large shocks (eg, financial crises, natural disasters, violence and trauma) may have long …

In this paper, we study the relationship between financial literacy and self‐employment. We
use established financial literacy questions to measure literacy levels. The analysis shows a …

We study whether personal experiences are so powerful that they make individuals actively
shy away from risk. Our research design relies on portfolio decisions relating to inheritances …