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Keywords:Financial literacy 

Working Paper
A literature review on the effectiveness of financial education

This survey summarizes current research on financial literacy efforts. Because most financial literacy programs are relatively new, much of the literature reviewed here is also new and part of a field that is still developing as a program of research. However, we can conclude that financial education is necessary and that many existing approaches are effective. Among the findings are that some households make mistakes with personal finance decisions; mistakes are more common for low income and less educated households; there is a causal connection between increases in financial knowledge and ...
Working Paper , Paper 07-03

Speech
Opening remarks: a speech at the Federal Reserve Community Affairs Research Conference Financing Community Development, Washington, D.C., March 30, 2007

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, presented at the Federal Reserve Community Affairs Research Conference, Financing Community Development, Washington, D.C., March 30, 2007
Speech , Paper 6

Speech
Improving the measurement of inflation expectations

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.
Speech , Paper 84

Discussion Paper
Delivery of financial literacy programs

A critical challenge faced by educators, community leaders and policy makers is to bring financial literacy and consumer education effectively to their constituencies. Based on the qualitative evidence gleaned from focus groups, we take a pragmatic approach in proposing ways to deliver financial literacy programs to adults. This article makes several suggestions for implementing financial literacy programs, from outlining important financial literacy and consumer education topics to discussing the logistics of using various method of outreach activities.
Consumer and Community Affairs Policy Studies , Paper 2000-7

Working Paper
Bank accounts and youth financial knowledge: connecting experience and education

Studies have shown that ?experiential learning? can result in significant knowledge gains in a number of subject areas, but how does ?learning by doing? fit into the context of financial education? This new working paper explores this topic and analyzes data from the 2008 Jump$tart survey of high school seniors to examine the relationship between bank account ownership and student knowledge of personal finance. The results are informative for financial education delivery, particularly the importance of providing interactive opportunities for the application and practice of skills and ...
Community Development Working Paper , Paper 2009-07

Journal Article
Learning and growing: Lessons learned in financial education

Community Investments , Volume 21 , Issue Sum

Journal Article
Kids Bank Encourages Early Saving in Fort Worth

A unique partnership between Unity One Federal Credit Union and Fort Worth's Washington Heights Elementary School created a "Kids Bank" that encourages savings and teaches children valuable financial skills that will benefit them for a lifetime.
e-Perspectives , Volume 6 , Issue 4

Discussion Paper
Economic literacy and inflation expectations: evidence from a laboratory experiment

We present new experimental evidence on heterogeneity in the formation of inflation expectations and relate the variation to economic literacy and demographics. The experimental design allows us to investigate two channels through which expectations-formation may vary across individuals: (1) the choice of information and (2) the use of given information. Subjects who are more economically literate perform better along both dimensions?they choose more-relevant information and make better use of given information. Compared with survey data on inflation expectations, fewer demographic factors ...
Public Policy Discussion Paper , Paper 11-8

Working Paper
Confidence, Financial Literacy and Investment in Risky Assets: Evidence from the Survey of Consumer Finances

We employ recent Survey of Consumer Finances (SCF) microdata from the US to analyze the impacts of confidence in one’s own financial knowledge, confidence in the economy, and objective financial literacy on investment in risky financial assets (equity and bonds) on both the extensive and intensive margins. Controlling for a rich set of covariates including risk aversion, we find that objective financial literacy is positively related to investment in risky assets as well as debt securities. Moreover, confidence in own financial skills additionally increases the probability of holding risky ...
Finance and Economics Discussion Series , Paper 2020-004

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