Teachers Teaching Teachers: The Role of Workplace Peer Effects in Financial Decisions

Maturana, Gonzalo; Nickerson, Jordan

doi:10.1093/rfs/hhy136

Cited by 71 publications

(23 citation statements)

References 33 publications

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“…Indeed, two recent papers have found evidence for peer effects in influencing individuals' mortgage choices. Maturana & Nickerson (2019) explore the role of workplace peers in providing information about mortgage refinancings. They study a sample of teachers from Texas, for which they are able to observe quasi-random variation in peer groups.…”

Section: Peer Effects In Mortgage Choicementioning

confidence: 99%

“…In particular, the authors exploit that different teacher-pairs within the same school are more likely to interact when they share the same off-periods. Maturana & Nickerson (2019) use this variation to document a strong effect of peer behavior on mortgage refinancing decisions: a teacher is 20.7% more likely to refinance their own mortgage following a one standard deviation increase in the refinancing activity among her peers. The effect of peer behavior increases with the potential savings realized upon refinancing, and is stronger among younger teachers.…”

Section: Peer Effects In Mortgage Choicementioning

confidence: 99%

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Social Finance

Kuchler¹,

Stroebel²

2020

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Both authors have been research consultants at Facebook, a social networking company, in order to work with anonymized data on research topics in the "social finance" space. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Section: Peer Effects In Mortgage Choicementioning

confidence: 99%

Section: Peer Effects In Mortgage Choicementioning

confidence: 99%

Social Finance

Kuchler¹,

Stroebel²

2020

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“…Financial literacy is inextricably linked to the development of every country's financial systems. It has dramatic implications for financial personal decision making [22][23][24][25][26] and economic development by increasing economic security and decreasing unemployment [27,28,29]. Financial education improves people's understanding of various financial products and concepts through various instructions, information, and advice to develop financial risk and opportunity recognition skills.…”

Section: Introductionmentioning

confidence: 99%

A Study on Financial Inclusion in India and Its Relation with Financial Literacy

Mehak

Dharni

2022

JEMT

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Finance has become a crucial part of our economy for development of the society. For this purpose, a solid economic system is required not only in developing and under-developed countries but also for developing countries for maintaining growth. Through financial inclusion we will achieve equitable growth of our country. Financial inclusion means providing appropriate products and services to weaker sections at a reasonable cost. Now day’s financial institutions provide complex sort of products. So it's difficult for the commoner to form choice among them. Therefore, literacy about financial products is required to form sound decisions. Financial Literacy isn't nearly markets and investing, but also savings, budgeting, financial planning, basics of banking and most significantly, about being "Financially Smart". Financial Literacy is considered important factor for promoting financial inclusion. Financial literacy is about enabling the commoner to know the varied needs and benefits of varied financial products and services provided by institutional players. During this paper, review of literature of monetary inclusion and financial literacy is provided. Various determinants of monetary literacy and its relationship with financial inclusion have also been reviewed and studied.

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“…In the scientific field, there are many studies focused on the relationship between citizens' financial literacy proficiency and financial decisions that they make at different stages of their lives, according to their different needs. It has dramatical implications on financially personal decisions making (Kezar & Yang, 2010); (Lusardi & Mitchell, 2014); (Maturana & Nickerson, 2018); (Paiella, 2016); (Rashidin, Javed, Chen, & Jian, 2020). While in early studies of financial literacy, researchers focused on issues of personal finance administration and basic financial knowledge, nowadays financial literacy is considered a more comprehensive concept.…”

Section: Introductionmentioning

confidence: 99%

Improving Financial Literacy as a Prerequisite for Increasing Fiscal Capacity: The Bulgarian Case

Aleksandrova¹,

Ismailov²

2021

Proceedings of ADVED 2021- 7th International Conference on Advances in Education

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Nowadays, the question of financial literacy and its interdependence with different aspects of the social and economic life of the state and citizens is being raised more often than ever. In the scientific field, numerous studies are exploring the relationship between the level of financial literacy of citizens and the financial decisions they make at different stages of their lives, according to their different needs. While in early studies of financial literacy researchers focused primarily on issues of personal finance administration and the level of basic financial knowledge, nowadays financial literacy is seen as a much broader and complex concept. The perceived individual need to make adequate financial decisions creates the need for specific financial knowledge and skills, i.e., financial literacy. Individual's responsibility for decision-making related to welfare, health and pension insurance, relationships with credit institutions and the state leads to the increasing and pressing need to improve financial literacy and incorporate (study) it in the educational processes.An essential component in the process of making informed financial decisions and the resulting rights and obligations of citizens is the relationship with the state, i.e., the fiscal. Good knowledge of the structure of public finances, the tax system, the methods for calculating taxes due, etc. have a significant impact on this process. The current study aims to establish the level of financial literacy held by citizens and to test the research hypothesis that high financial literacy is a prerequisite for improving the country's fiscal capacity. For the purposes of the study, the authors have developed a unique survey, structured in 21 questions, conditionally divided into 3 groups. The survey analyses the results obtained by 266 respondents.

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Teachers Teaching Teachers: The Role of Workplace Peer Effects in Financial Decisions

Cited by 71 publications

References 33 publications

Social Finance

Social Finance

A Study on Financial Inclusion in India and Its Relation with Financial Literacy

Improving Financial Literacy as a Prerequisite for Increasing Fiscal Capacity: The Bulgarian Case

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