Do more financially literate households investess in housing? Evidence from Italy

被引：0
|
作者：
Calcagno, Riccardo [1 ]
Brancati, Maria Cesira Urzi [2 ,3 ]
机构：
[1] Coll Carlo Alberto, Lyon Business Sch & CeRP, Moncalieri, Italy
[2] Univ Modena & Reggio Emilia, Modena, Italy
[3] Coll Carlo Alberto, CeRP, Modena, Italy
来源：
ECONOMICS BULLETIN | 2014年 / 34卷 / 01期
关键词：
D O I：
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中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using the Bank of Italy's Survey of Households Income and Wealth (SHIW) covering a 5-year panel, we measure the impact of the degree of households financial literacy on the quota of housing investment in their portfolio. We find that households with higher levels of financial literacy hold a relatively lower share of illiquid wealth, and the results are more pronounced at older ages. when according to the lifecycle hypothesis they are meant to decumulate their wealth.
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页码：430 / 445
页数：16
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