Tabea Bucher-Koenen (ZEW): "Fearless Girl: Women’s financial literacy and stock market participation"
Sarah Reiter (ifi): "The Effect of Financial Literacy on Granting Third-Party Guarantees"
Tim Kaiser (Landau University): "Financial Education Affects Financial Knowledge and Downstream Behaviors"
Three papers on different aspect of financial literacy will be presented. The first paper investigates whether the gender gap in financial literacy reflects a lack of knowledge or a lack of confidence. A survey experiment shows that women often choose the correct answer when the “do not know” response option is not available. Both finan-cial knowledge and confidence explain stock market participation.
The second paper provides evidence on how well individuals understand the concept of contingent liabilities. It introduces a new measure capturing the knowledge about guarantees and shows that guarantee literacy significantly reduces an individual’s propensity to act as a guarantor.
The third paper studies the causal effect of financial education programs is a meta-analysis of 76 randomized experiments. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors.