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Social and Behavioral Sciences Commons™
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Articles 1 - 2 of 2
Full-Text Articles in Social and Behavioral Sciences
Financial Knowledge And Financial Literacy At The Household Level, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Financial Knowledge And Financial Literacy At The Household Level, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Dartmouth Scholarship
There is evidence of a relation between numeracy and wealth held outside of pensions and Social Security. With pensions and Social Security accounting for half of wealth at retirement, and evidence that those with pensions save more in other forms, one would expect to find knowledge of pensions and Social Security influencing retirement saving. Yet we find no evidence that knowledge of pensions and Social Security is related to nonpension, non-Social Security wealth, to numeracy, or that it plays an intermediate role in the numeracy-wealth relation. Our findings raise questions about policies that would enhance numeracy to increase retirement saving.
Global Savings And Global Investment: The Transmission Of Identified Fiscal Shocks, James Feyrer, Jay Shambaugh
Global Savings And Global Investment: The Transmission Of Identified Fiscal Shocks, James Feyrer, Jay Shambaugh
Dartmouth Scholarship
This paper examines the effect of exogenous shocks to savings on world capital markets. Exogenous tax increases in the United States (from Romer and Romer 2010) are only partially offset by changes in domestic private savings, and only a small amount is absorbed by increased domestic investment (contra Feldstein and Horioka 1980). Almost half the change in taxes is transmitted abroad through a change in the US current account. Other countries experience decreases in current accounts and increases in investment in response to exogenous US tax increases. We cannot reject symmetric responses across countries with different currency regimes and levels …