Family Financial Socialization and Wealth Decisions

References

Alessie, R., M. Van Rooij, and A. Lusardi. 2011. “Financial Literacy and Retirement Preparation in the Netherlands.” Journal of Pension Economics and Finance 10: 527–45. https://doi.org/10.1017/s1474747211000461.Search in Google Scholar

Almenberg, J., and A. Dreber. 2015. “Gender, Stock Market Participation and Financial Literacy.” Economics Letters 137: 140–2. https://doi.org/10.1016/j.econlet.2015.10.009.Search in Google Scholar

Altonji, J. G., T. E. Elder, and C. R. Taber. 2005. “Selection on Observed and Unobserved Variables: Assessing the Effectiveness of Catholic Schools.” Journal of Political Economy 113: 151–84.10.3386/w7831Search in Google Scholar

Ashby, J., I. Schoon, and P. Webley. 2011. “Save Now, Save Later? Linkages between Saving Behaviour in Adolescence and Adulthood.” European Psychologist 16 (3): 227–37. https://doi.org/10.1027/1016-9040/a000067.Search in Google Scholar

Behrman, J. R., O. S. Mitchell, C. K. Soo, and D. Bravo. 2012. “The Effects of Financial Education and Financial Literacy.” American Economic Review: Papers and Proceedings 102: 300–4. https://doi.org/10.1257/aer.102.3.300.Search in Google Scholar

Bernheim, B. D., D. M. Garret, and D. M. Maki. 2001. “Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates.” Journal of Public Economics 80 (3): 435–65. https://doi.org/10.1016/s0047-2727(00)00120-1.Search in Google Scholar

Brown, M., J. Grigsby, W. Van der Klaauw, J. Wen, and B. Zafar. 2016. “Financial Education and the Debt Behavior of the Young.” Review of Financial Studies 29 (9): 2490–522. https://doi.org/10.1093/rfs/hhw006.Search in Google Scholar

Brown, S., and K. Taylor. 2016. “Early Influences on Saving Behaviour: Analysis of British Panel Data.” Journal of Banking and Finance 62: 1–14. https://doi.org/10.1016/j.jbankfin.2015.09.011.Search in Google Scholar

Bucciol, A., and M. Veronesi. 2014. “Teaching Children to Save: What Is the Best Strategy for Lifetime Savings?” Journal of Economic Psychology 45: 1–17. https://doi.org/10.1016/j.joep.2014.07.003.Search in Google Scholar

Bucciol, A., and L. Zarri. 2019. “Saving Education Received in Early Life and Future Orientation in Adulthood.” Journal of Financial Counseling and Planning 30 (1): 67–82. https://doi.org/10.1891/1052-3073.30.1.67.Search in Google Scholar

Bucker-Koenen, T., A. Lusardi, R. Alessie, and M. Van Rooij. 2017. “How Financially Literate Are Women? An Overview and New Insights.” Journal of Consumer Affairs 51 (2): 255–83.10.3386/w20793Search in Google Scholar

Christelis, D., T. Jappelli, and M. Padula. 2010. “Cognitive Abilities and Portfolio Choice.” European Economic Review 54: 18–38. https://doi.org/10.1016/j.euroecorev.2009.04.001.Search in Google Scholar

Clark, R. L., M. D’Ambrosio, A. McDermed, and K. Sawant. 2006. “Retirement Plans and Saving Decisions: The Role of Information and Education.” Journal of Pension Economics and Finance 5 (1): 45–67. https://doi.org/10.1017/s1474747205002271.Search in Google Scholar

Danes, S. M. 1994. “Parental Perceptions of Children’s Financial Socialization.” Journal of Financial Counseling and Planning 5: 127–49.Search in Google Scholar

Edwards, R., M. W. Allen, and C. R. Hayhoe. 2007. “Financial Attitudes and Family Communication about Students’ Finances: The Role of Sex Differences.” Communication Reports 20 (2): 90–100. https://doi.org/10.1080/08934210701643719.Search in Google Scholar

Feather, N. T. 1991. “Variables Relating to the Allocation of Pocket Money to Children: Parental Reasons and Value.” British Journal of Social Psychology 30: 221–34. https://doi.org/10.1111/j.2044-8309.1991.tb00940.x.Search in Google Scholar

Fernandes, D., J. G. LynchJr., and R. G. Netemeyer. 2014. “Financial Literacy and Downstream Financial Behaviors.” Management Science 60 (8): 1861–83. https://doi.org/10.1287/mnsc.2013.1849.Search in Google Scholar

Fornero, E., M. Rossi, and D. Sansone. 2018. “Four Bright Coins Shining at Me”: Financial Education in Childhood, Financial Confidence in Adulthood.” Journal of Consumer Affairs 53 (2): 630–51.10.1111/joca.12207Search in Google Scholar

Garrison, S. T., and M. Gutter. 2010. “Gender Differences in Financial Socialization and Willingness to Take Financial Risks.” Journal of Financial Counseling and Planning 21 (2): 60–72.Search in Google Scholar

Grohmann, A., R. Kouwenberg, and L. Menkhoff. 2015. “Childhood Roots of Financial Literacy.” Journal of Economic Psychology 51 (C): 114–33. https://doi.org/10.1016/j.joep.2015.09.002.Search in Google Scholar

Harada, M. 2013. “Generalized Sensitivity Analysis and Application to Quasi-experiments.” In Working Paper, New York University.Search in Google Scholar

Hastings, J. S., and L. Tejeda-Ashton. 2008. “Financial Literacy, Information, and Demand Elasticity: Survey and Experimental Evidence from Mexico.” In NBER Working Paper, 14538.10.3386/w14538Search in Google Scholar

Hathaway, I., and S. Khatiwada. 2008. “Do Financial Education Programs Work?” In Federal Reserve Board of Cleveland Working Paper, 08-03.10.26509/frbc-wp-200803Search in Google Scholar

Hayta, A. B. 2008. “Socialization of the Child as a Consumer.” Family and Consumer Sciences Research Journal 37 (2): 167–84. https://doi.org/10.1177/1077727x08327256.Search in Google Scholar

Houser, D., J. A. List, M. Piovesan, A. Samek, and J. Winter. 2016. “On the Origins of Dishonesty: From Parents to Children.” European Economic Review 82: 242–54. https://doi.org/10.1016/j.euroecorev.2015.11.003.Search in Google Scholar

Huston, S. J. 2010. “Measuring Financial Literacy.” Journal of Consumer Affairs 44: 296–316. https://doi.org/10.1111/j.1745-6606.2010.01170.x.Search in Google Scholar

Imbens, G. 2003. “Sensitivity to Exogeneity Assumptions in Program Evaluation.” American Economic Review 93: 126–32. https://doi.org/10.1257/000282803321946921.Search in Google Scholar

Kaiser, T., and L. Menkhoff. 2017. “Does Financial Education Impact Financial Literacy and Financial Behavior, and if So, When?” World Bank Economic Review 31 (3): 611–30. https://doi.org/10.1093/wber/lhx018.Search in Google Scholar

Lührmann, M. M., M. Serra-Garcia, and J. Winter. 2015. “Teaching Teenagers in Finance: Does it Work?” Journal of Banking and Finance 54: 160–74. https://doi.org/10.1016/j.jbankfin.2014.11.009.Search in Google Scholar

Lusardi, A. 2009. “Planning for Retirement: The Importance of Financial Literacy.” Public Policy and Aging Report 19 (3): 7–13. https://doi.org/10.1093/ppar/19.3.7.Search in Google Scholar

Lusardi, A., P. Keller, and A. Keller. 2008. “New Ways to Make People Save: a Social Marketing Approach.” In Overcoming the Saving Slump: How to Increase the Effectiveness of Financial Education and Saving Programs, edited by A. Lusardi. Chicago: University of Chicago Press.10.7208/chicago/9780226497105.003.0008Search in Google Scholar

Lusardi, A., and O. S. Mitchell. 2007a. “Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs.” Business Economics 42 (1): 35–44. https://doi.org/10.2145/20070104.Search in Google Scholar

Lusardi, A., and O. S. Mitchell. 2007b. “Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth.” Journal of Monetary Economics 54: 205–24. https://doi.org/10.1016/j.jmoneco.2006.12.001.Search in Google Scholar

Lusardi, A., and O. S. Mitchell. 2008. “Planning and Financial Literacy: How Do Women Fare?” American Economic Review: Papers and Proceedings 98: 413–7. https://doi.org/10.1257/aer.98.2.413.Search in Google Scholar

Lusardi, A., and O. S. Mitchell. 2011. “Financial Literacy Around the World: An Overview.” Journal of Pension Economics and Finance 10: 497–508. https://doi.org/10.1017/s1474747211000448.Search in Google Scholar

Lusardi, A., and O. S. Mitchell. 2014. “The Economic Importance of Financial Literacy: Theory and Evidence.” Journal of Economic Literature 52: 5–44. https://doi.org/10.1257/jel.52.1.5.Search in Google Scholar

Lusardi, A., O. S. Mitchell, and V. Curto. 2010. “Financial Literacy Among the Young.” Journal of Consumer Affairs 44: 358–80. https://doi.org/10.1111/j.1745-6606.2010.01173.x.Search in Google Scholar

Lusardi, A., and P. Tufano. 2015. “Debt Literacy, Financial Experiences, and Overindebtedness.” Journal of Pension Economics and Finance 14: 332–68. https://doi.org/10.1017/s1474747215000232.Search in Google Scholar

Matthies, E., S. Selge, and C. A. Klöckner. 2012. “The Role of Parental Behaviour for the Development of Behaviour Specific Environmental Norms – The Example of Recycling and Re-use Behaviour.” Journal of Environmental Psychology 32 (3): 277–84. https://doi.org/10.1016/j.jenvp.2012.04.003.Search in Google Scholar

Miller, M. J., J. Reichelstein, C. Salas, and B. Zia. 2015. “Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature.” World Bank Research Observer 30 (2): 220–46. https://doi.org/10.1093/wbro/lkv009.Search in Google Scholar

Mimura, Y., J. Koonce, S. W. Plunkett, and L. Pleskus. 2015. “Financial Information Source, Knowledge, and Practices of College Students from Diverse Backgrounds.” Journal of Financial Counseling and Planning 26 (1): 63–78. https://doi.org/10.1891/1052-3073.26.1.63.Search in Google Scholar

Mundlak, Y. 1978. “On the Pooling of Time Series and Cross Section Data.” Econometrica 46: 69–85. https://doi.org/10.2307/1913646.Search in Google Scholar

Oster, E. 2019. “Unobservable Selection and Coefficient Stability: Theory and Evidence.” Journal of Business and Economic Statistics 37 (2): 187–204. https://doi.org/10.1080/07350015.2016.1227711.Search in Google Scholar

Otto, A., and P. Webley. 2016. “Saving, Selling, Earning, and Negotiating: How Adolescents Acquire Monetary Lump Sums and Who Considers Saving.” Journal of Consumer Affairs 50: 342–71. https://doi.org/10.1111/joca.12075.Search in Google Scholar

Rogoff, B., R. Paradise, R. M. Arauz, M. Correa-Chavez, and C. Angelillo. 2003. “Firsthand Learning through Intent Participation.” Annual Review of Psychology 53: 175–203. https://doi.org/10.1146/annurev.psych.54.101601.145118.Search in Google Scholar

Serido, J., and V. Deenanath. 2016. “Financial Parenting: Promoting Financial Self-Reliance of Young Consumers.” In Handbook of Consumer Finance Research, edited by J. J. Xiao, 291–300. New York, NY: Springer.10.1007/978-3-319-28887-1_24Search in Google Scholar

Sherraden, M., L. Johnson, B. Guo, and W. Elliott. 2009. “Financial Capability in Children: Effects of Participation in a School-Based Financial Education and Saving Programme.” Journal of Family and Economic Issues 32: 385–99.10.1007/s10834-010-9220-5Search in Google Scholar

Shim, S., B. L. Barber, N. A. Card, J. J. Xiao, and J. Serido. 2010. “Financial Socialization of First-Year College Students: The Roles of Parents, Work, and Education.” Journal of Youth and Adolescence 39: 1457–70. https://doi.org/10.1007/s10964-009-9432-x.Search in Google Scholar

Shim, S., J. Serido, C. Tang, and N. Card. 2015. “Socialization Processes and Pathways to Healthy Financial Development for Emerging Young Adults.” Journal of Applied Developmental Psychology 38: 29–38. https://doi.org/10.1016/j.appdev.2015.01.002.Search in Google Scholar

Stango, V., and J. Zinman. 2009. “Exponential Growth Bias and Household Finance.” Journal of Finance 64: 2807–49. https://doi.org/10.1111/j.1540-6261.2009.01518.x.Search in Google Scholar

Sundarasen, S. S. D., M. S. Rahamn, N. S. Otham, and J. Danaraj. 2016. “Impact of Financial Literacy, Financial Socialization Agents, and Parental Norms on Money Management.” Journal of Business Studies Quarterly 8 (1): 137–53.Search in Google Scholar

Urban, C., M. Schmeiser, J. M. Collins, and A. Brown. 2020. “The Effects of High School Personal Financial Education Policies on Financial Behavior.” Economics of Education Review 78: 1–12. https://doi.org/10.1016/j.econedurev.2018.03.006.Search in Google Scholar

Van Rooij, M., A. Lusardi, and R. Alessie. 2011a. “Financial Literacy and Retirement Planning in the Netherlands.” Journal of Economic Psychology 32: 593–608. https://doi.org/10.1016/j.joep.2011.02.004.Search in Google Scholar

Van Rooij, M., A. Lusardi, and R. Alessie. 2011b. “Financial Literacy and Stock Market Participation.” Journal of Financial Economics 101: 449–72. https://doi.org/10.1016/j.jfineco.2011.03.006.Search in Google Scholar

Van Rooij, M, A. Lusardi, and R. Alessie. 2012. “Financial Literacy, Retirement Planning and Household Wealth.” Economic Journal 122: 449–78. https://doi.org/10.1111/j.1468-0297.2012.02501.x.Search in Google Scholar

Varcoe, K., S. Peterson, C. Gabertt, A. Martin, and C. Costello. 2001. “What Teens Want to Know about Financial Management.” Journal of Family and Consumer Sciences 93 (2): 30–4.Search in Google Scholar

Ward, S. 1974. “Consumer Socialization.” Journal of Consumer Research 1: 1–14. https://doi.org/10.1086/208584.Search in Google Scholar