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Optimal Financial Knowledge and Wealth Inequality

We show that financial knowledge is a key determinant of wealth inequality in a stochastic life cycle model with endogenous financial knowledge accumulation, where financial knowledge enables individuals to better allocate lifetime resources in a world of uncertainty and imperfect insurance. Moreove...

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Bibliographic details
Volume: 125
Main Author: Lusardi, Annamaria
Michaud, Pierre-Carl
Mitchell, Olivia S
Format: Journal Article
Language: English
Place of publication: CHICAGO University of Chicago Press 01.04.2017
UNIV CHICAGO PRESS
published in: The Journal of political economy Vol. 125; no. 2; pp. 431 - 477
Data of publication: 20170401
ISSN: 0022-3808
1537-534X
EISSN: 1537-534X
Classification Codes:






Discipline: Economics
Political Science
Subjects:
Economics
Business & Economics
Social Sciences
Article
LIFE-CYCLE
INVESTMENT
PORTFOLIO CHOICE
LITERACY
TIME
RISK-AVERSION
HEALTH
MODEL
PREFERENCE
CONSUMPTION
Online Access: available in Bonn?
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2017
Web of Knowledge
Web of Science
PubMed
CrossRef
MEDLINE - Academic
OpenAIRE
OpenAIRE (Open Access)
PubMed Central (Full Participant titles)
Database information Databases - DBIS