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The Determinants and Consequences of Financial Education in the Workplace: Evidence from a Survey of Households Author info | Abstract | Publisher info | Download info | Related research | Statistics B. Douglas Bernheim
Daniel M. Garrett
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March 1996 In recent years, the United States has witnessed significant growth in programs of financial and retirement education in the workplace. This phenomenon provides an opportunity to assess the effects of targeted education programs on financial choices. This paper uses a novel household survey to develop econometric evidence on the efficacy of employer-based financial education. While our primary focus concerns the effects of these programs on saving (both in general and for the purposes of retirement), we also examine a number of collateral issues. These include the circumstances under which employers offer, and employees participate in, financial education programs, and the effects of these programs on sources of information and advice concerning retirement planning. Our findings indicate that employer-based retirement education strongly influences household financial behavior.
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Paper provided by Stanford University, Department of Economics in its series Working Papers with number
96007.
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Date of creation: Mar 1996Date of revision:
Handle: RePEc:wop:stanec:96007Contact details of provider: Postal: Ralph Landau Economics Building, Stanford, CA 94305-6072 Phone: (650)-725-3266 Fax: (650)-725-5702 Email: Web page: http://www-econ.stanford.edu/econ/workp/ More information through EDIRC
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Glenn R. Hubbard & Jonathan Skinner & Stephen P. Zeldes, .
"Precautionary Saving and Social Insurance ,"
Rodney L. White Center for Financial Research Working Papers
3-95, Wharton School Rodney L. White Center for Financial Research.
Other versions:
Glenn R. Hubbard & Jonathan Skinner & Stephen P. Zeldes, .
"Precautionary Saving and Social Insurance ,"
Rodney L. White Center for Financial Research Working Papers
03-95, Wharton School Rodney L. White Center for Financial Research.
R. Glenn Hubbard & Jonathan Skinner & Stephen P. Zeldes, 1995.
"Precautionary Saving and Social Insurance ,"
NBER Working Papers
4884, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Hubbard, R Glenn & Skinner, Jonathan & Zeldes, Stephen P, 1995.
"Precautionary Saving and Social Insurance ,"
Journal of Political Economy ,
University of Chicago Press, vol. 103(2), pages 360-99, April.
[Downloadable!] (restricted) Patrick J. Bayer & B. Douglas Bernheim & John Karl Scholz, 1996.
"The Effects of Financial Education in the Workplace: Evidence from a Survey of Employers ,"
Working Papers
96011, Stanford University, Department of Economics.
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Other versions: B. Douglas Bernheim & John Karl Scholz, 1992.
"Private Saving and Public Policy ,"
NBER Working Papers
4215, National Bureau of Economic Research, Inc.
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Eric M. Engen & William G. Gale & John Karl Scholz, 1994.
"Do Saving Incentives Work? ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 25(1994-1), pages 85-180.
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"Rethinking Saving Incentives ,"
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Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Peter Diamond, 1998.
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B. Douglas Bernheim & Daniel M. Garrett & Dean M. Maki, 1997.
"Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates ,"
Working Papers
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B. Douglas Bernheim & Daniel M. Garrett & Dean M. Maki, 1997.
"Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates ,"
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[Downloadable!] (restricted) Bernheim, B. Douglas & Garrett, Daniel M. & Maki, Dean M., 2001.
"Education and saving:: The long-term effects of high school financial curriculum mandates ,"
Journal of Public Economics ,
Elsevier, vol. 80(3), pages 435-465, June.
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2000-12, Center for Retirement Research.
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Brigitte C. Madrian & Dennis F. Shea, 2000.
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Other versions: Eric M. Engen & William G. Gale & John Karl Scholz, 1996.
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Alan L. Gustman & Thomas L. Steinmeier, 2001.
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Margaret Clancy & Michal Grinstein-Weiss & Mark Schreiner, 2001.
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Irena Dushi & Marjorie Honig, 2007.
"Are 401(k) Saving Rates Changing? Cohort/Period Evidence from the Health and Retirement Study ,"
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Scott Weisbenner, 1999.
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Eric M. Engen & William G. Gale, 2000.
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