NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Tabea Bucher-Koenen

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

Working Papers and Chapters

December 2014How financially literate are women? An overview and new insights
with Annamaria Lusardi, Rob Alessie, Maarten van Rooij: w20793
We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do not know the answer. In addition, women give themselves lower scores on financial literacy self-assessments than men. Both young and old women show low levels of financial literacy. Moreover, women for whom financial knowledge is likely to be very important—for example widows or single women—know little about concepts relevant for day-to-day financial decisions. Even women in favorable economic conditions are less financially knowledgeable than men. This is important because financial literacy has been linked to economic behavior...
April 2014Health, Financial Incentives, and Early Retirement: Micro-Simulation Evidence for Germany
with Hendrik Jürges, Lars Thiel, Johannes Rausch, Morten Schuth, Axel Börsch-Supan
in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, David A. Wise, editor
February 2014Health, Financial Incentives, and Early Retirement: Micro-Simulation Evidence for Germany
with Hendrik Juerges, Lars Thiel, Johannes Rausch, Morten Schuth, Axel Boersch-Supan: w19889
About 20% of German workers retire on disability pensions. Disability pensions provide fairly generous benefits for those who are not already age-eligible for an old-age pension and who are deemed unable to work for health reasons. In this paper, we use two sets of individual survey data to study the role of health and financial incentives in early retirement decisions in Germany, in particular disability benefit uptake. We show that financial incentives to retire do affect sick individuals at least as much as healthy individuals. Based on 25 years of individual survey data and empirical models of retirement behavior, we then simulate changes in the generosity of disability pensions to understand how these changes would affect retirement behavior. Our results show that making the disabilit...

Forthcoming: Health, Financial Incentives, and Early Retirement: Micro-Simulation Evidence for Germany, Hendrik Jürges, Lars Thiel, Tabea Bucher-Koenen, Johannes Rausch, Morten Schuth, Axel Börsch-Supan. in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, Wise. 2014

June 2011Financial Literacy and Retirement Planning in Germany
with Annamaria Lusardi: w17110
We examine financial literacy in Germany using data from the SAVE survey. We find that knowledge of basic financial concepts is lacking among women, the less educated, and those living in East Germany. In particular, those with low education and low income in East Germany have little financial literacy compared to their West German counterparts. Interestingly, there is no gender disparity in financial knowledge in the East. In order to investigate the nexus of causality between financial literacy and retirement planning, we develop an IV strategy by making use of regional variation in the financial knowledge of peers. We find a positive impact of financial knowledge on retirement planning.

Published: “ Financial Literacy and Retireme n t Planning in Germany, ” joint with Ta bea Bucher - Koenen , Journal of Pension Economics and Finance , October 2011, vol. 10(4), pp. 5 65 - 584 .

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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