Financial Literacy, Household Investment and Household Debt: Evidence from Switzerland

摘要: We use a novel, representative survey to document the level of financial literacy among Swiss households and examine how is related household investment borrowing. find that only half respondents were able answer three questions on basic concepts (compound interest, inflation risk diversification) correctly. Financial lower low-income less-educated immigrant as well women. Young seem be less familiar with concept inflation, while retirees are compound interest diversification. strongly correlated market participation, voluntary retirement saving mortgage