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DIW Economic Bulletin 30/31 / 2015

School, Parents, and Financial Literacy Shape Future Financial Behavior

Why do some people make better financial decisions than others do? The level of financial literacy plays an important role: Quality schooling that also deals with financial issues likewise leads to better financial decisions. However, many studies neglect how parenting also influences financial behavior. This report shows that parents also have an indirect effect on the financial literacy of their ...

2015| Antonia Grohmann, Lukas Menkhoff
DIW aktuell ; 40 / 2020

Wechselkurse als Corona-Barometer: wie Währungsschwankungen die Krise spiegeln

Die Corona-Pandemie führt seit Beginn des Jahres zu einer schweren Krise der Weltwirtschaft, die sich – wie jede Krise – auch an den Devisenmärkten zeigt. Der Preis der dort gehandelten nationalen Währungen spiegelt die Stärke der jeweiligen Volkswirtschaft. Die großen Veränderungen der Wechselkurse seit Januar zeigen, wie die Volkswirtschaften in der Welt ganz unterschiedlich stark von der Krise getroffen ...

2020| Lukas Boer, Lukas Menkhoff
Vierteljahrshefte zur Wirtschaftsforschung 1 / 2021

Finanzielle Bildung: Was soll die Politik tun? Editorial

2021| Lukas Menkhoff, Doris Neuberger
Vierteljahrshefte zur Wirtschaftsforschung 4 / 2017

Gute Finanzbildung braucht randomisierte Experimente

2017| Lukas Menkhoff
Diskussionspapiere 1917 / 2020

Corruption and Cheating: Evidence from Rural Thailand

This study tests the prediction that perceived corruption reduces ethical behavior. Integrating a standard “cheating” experiment into a broad household survey in rural Thailand, we find clear support for this prediction: respondents who perceive corruption in state affairs are more likely to cheat and, thus, to fortify the negative consequences of corruption. Interestingly, there is a small group of ...

2020| Olaf Hübler, Melanie Koch, Lukas Menkhoff, Ulrich Schmidt
Diskussionspapiere 1915 / 2020

Foreign Exchange Intervention: A New Database

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. Our new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that ...

2020| Marcel Fratzscher, Tobias Heidland, Lukas Menkhoff, Lucio Sarno, Maik Schmeling
Diskussionspapiere 1914 / 2020

The Relationship between Financial Literacy and Financial Inclusion

About two billion people in the world do not own a financial account and there are many more who use financial services only occasionally. In the past, initiatives which address these problems of financial exclusion focused on the supply side of financial markets, in particular by increasing the branch network of banks and by offering cheap bank products. While this had the desired effect, recent ...

2020| Antonia Grohmann, Lukas Menkhoff
Diskussionspapiere 1895 / 2020

The Effectiveness of FX Interventions: A Meta-Analysis

There is ample empirical literature centering on the effectiveness of foreign exchange intervention (FXI). Given the mix of objectives and country-heterogeneity, the general lack of consensus thus far is no surprise. We shed light on this debate by conducting the first comprehensive meta-analysis in the FXI literature, with 279 reported effects that stem from 74 distinct empirical studies. We cover ...

2020| Lucía Arango-Lozano, Lukas Menkhoff, Daniela Rodríguez-Novoa, Mauricio Villamizar-Villegas
Diskussionspapiere 1864 / 2020

Financial Education Affects Financial Knowledge and Downstream Behaviors

We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment effects are economically meaningful ...

2020| Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urban
Diskussionspapiere 1854 / 2020

The Dynamic Impact of FX Interventions on Financial Markets

Evidence on the effectiveness of FX interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally, we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and that this impact ...

2020| Lukas Menkhoff, Malte Rieth, Tobias Stöhr
89 Ergebnisse, ab 21
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