Empirica – Journal of European Economics

Sponsored by the Austrian Economic Association and the Austrian Institute of Economic Research

Empirica publishes empirical and theoretical work on all economic aspects of European Integration. The topics may range from all challenges concerning the deepening of the European Union (Single Market, Lisbon Agenda, EMU) to enlargement and the external relations of the EU (globalisation).

Journal homepage

Suche nach ArtikelnErweiterte Suche


Pirmin Fessler, Maria Antoinette Silgoner, Rosa Weber
Financial knowledge, attitude and behaviour: evidence from the Austrian Survey of Financial Literacy
Empirica, 2020, 47(4), S.929-947, http://www.springer.com/10663
This paper provides an in-depth analysis of the links between financial knowledge, attitude and behaviour, based on the Austrian contribution to the OECD/INFE survey on financial literacy. Our analysis gives evidence of causal effects of financial knowledge on financial behaviour, using a new instrument based on respondents' newspaper reading habits. We confirm that the selection bias is likely negative, i.e. we would underestimate the causal effect of knowledge on behaviour in a classical regression setting. Furthermore, we provide mediation analyses, showing that about 13 percent of the causal effect of knowledge on behaviour is mediated through financial attitude.
Forschungsbereich:Makroökonomie und europäische Wirtschaftspolitik

Managing Editor

Univ.-Prof. MMag. Dr. Harald Oberhofer

Funktion: Ökonom (Senior Economist), Managing Editor Empirica
Forschungsbereiche: Industrieökonomie, Innovation und internationaler Wettbewerb