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New page: *This page is referenced in The NBER Entrepreneurship Research Boot Camp Page ==Reference(s)== *Lusardi, ...
*This page is referenced in [[Entrepreneurship_Research_Boot_Camp#The_Decision_to_become_an_Entrepreneur | The NBER Entrepreneurship Research Boot Camp Page]]

==Reference(s)==

*Lusardi, Annamaria, Olivia Mitchell and Vilsa Curto (2010), "Financial Literacy among the Young", Journal of Consumer Affairs, Special Issue on Financial Literacy, 44, pp. 358-380. [http://www.edegan.com/pdfs/Lusardi%20Mitchell%20Curto%20(2010)%20-%20Financial%20Literacy%20Among%20The%20Young.pdf pdf]

==Abstract==

We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest rates, inflation and risk diversification. Financial literacy was strongly related to sociodemographic characteristics and family financial sophistication. Specifically, a collegeeducated male whose parents had stocks and retirement savings was about 45 percentage points more likely to know about risk diversification than a female with less than a high school education whose parents were not wealthy.
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