Insufficient savings and bad financial decision-making present a major challenge for people as the financial world becomes more complex and financial responsibility for old age provision shifts towards the individual.
Structural economic reforms, such as labour market and pension reforms, are often difficult to introduce because of voter discontent. Elsa Fornero and Anna Lo Prete have investigated whether painful reforms take more or less of a toll on the politicians who introduce them in countries where financial literacy is higher.
In the wake of the second round of OECD PISA student financial literacy results, Paul Gerrans, Professor of Accounting and Finance at the University of Western Australia, looks at whether more needs to done to ensure the financial literacy of Australian undergraduates.
Focusing on Bolivia, Colombia, Ecuador, and Peru, Maria José Roa, a Senior Researcher at the Center for Latin American Monetary Studies, looks at how financial literacy survey results can play a role in the development of financial inclusion strategies
Riding the wave of technological innovation in finance, the robo-advice model has emerged as one potential solution to increase the accessibility and affordability of getting help to invest savings for retirement. OECD's Jessica Mosher looks at the potential benefits, risks and challenges.
With the baby-boomer cohort progressing into, and through, retirement, an unprecedented number of older citizens will experience cognitive decline. Paul Gerrans examines the impact this may have on financial decision-making and financial literacy.
A financially competent consumer needs to be able to tell the difference between a well-qualified financial professional and an unqualified charlatan. How good are consumers at judging the quality of advisers?
Behavioural insights are used in a wide array of public policies, including in the financial domain. This article looks at one example of how they are being applied in Brazil to help improve financial literacy.