Financial literacy gaps of the Austrian population

Bettina Greimel-Fuhrmann (), Maria Silgoner and Rosa Weber ()
Additional contact information
Bettina Greimel-Fuhrmann: Vienna University of Economics and Business
Rosa Weber: Vienna University of Economics and Business

Monetary Policy & the Economy, 2015, issue 2, 35–51

Abstract: Most people lack financial knowledge and have trouble dealing competently with their financial affairs, as evidenced by recent empirical research on financial literacy in various countries. We investigate financial literacy among Austrians based on a novel dataset covering about 2,000 persons. Our findings corroborate the existence of substantial knowledge gaps, which are most conspicuous among respondents with low educational attainment and low incomes, among younger and older people as well as women. We provide tentative evidence for a positive link between financial knowledge scores and financial behavior, such as setting aside rainy day funds or using several sources of information when choosing financial products.

Keywords: financial literacy; financial education; central banks (search for similar items in EconPapers)
JEL-codes: A20 D14 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
https://www.oenb.at/dam/jcr:cff882a2-ea47-4d90-bc1 ... 15_q2_analyses02.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:onb:oenbmp:y:2015:i:2:b:2

Ordering information: This journal article can be ordered from
Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria

Access Statistics for this article

Monetary Policy & the Economy is currently edited by Gerhard Fenz and Maria Teresa Valderrama

More articles in Monetary Policy & the Economy from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Bibliographic data for series maintained by Rita Glaser-Schwarz ().