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The effects of financial literacy training: Evidence from a field experiment in German high schools

  • Winter, Joachim
  • Lührmann, Melanie
  • Serra Garcia, Marta

We report the results of a field experiment evaluating the impact of financial literacy training on teenagers between 14 and 16 years in German high schools. After the training, treated teenagers exhibit a significant increase in both interest in financial matters and self-assessed knowledge relative to the control group. We also find a strong decrease in the prevalence of impulse purchases after the training, suggesting that teenagers become more sovereign consumers. Our data reveals strong gender differences in financial matters already before adulthood: Girls show less interest in and self-assessed knowledge about financial matters, and are less likely to save.

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File URL: https://econstor.eu/bitstream/10419/79744/1/VfS_2013_pid_372.pdf
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Paper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79744.

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Date of creation: 2013
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Handle: RePEc:zbw:vfsc13:79744
Contact details of provider: Web page: http://www.socialpolitik.org/
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  1. Drexler, Alejandro & Fischer, Greg & Schoar, Antoinette S, 2010. "Keeping it Simple: Financial Literacy and Rules of Thumb," CEPR Discussion Papers 7994, C.E.P.R. Discussion Papers.
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  12. Tabea Bucher-Koenen & Michael Ziegelmeyer, 2011. "Who lost the most? Financial Literacy, Cognitive Abilities, and the Financial Crisis," BCL working papers 54, Central Bank of Luxembourg.
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  18. Alejandro Drexler & Gregory Fischer & Antoinette Schoar, 2014. "Keeping it simple: financial literacy and rules of thumb," LSE Research Online Documents on Economics 46797, London School of Economics and Political Science, LSE Library.
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  24. repec:ecj:econjl:v:122:y:2012:i::p:449-478 is not listed on IDEAS
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