Florian Deuflhard|Dimitris Georgarakos|Roman Inderst
Financial Literacy and Savings Account Returns
European Union|European Commission|European Central Bank|Goethe University Frankfurt
savings accounts owned households little known performance households investments create unique dataset matching information individual savings accounts dnb household survey market data accountspecific interest rates characteristics document heterogeneity returns across households partly explained financial sophistication onestandard deviation increase financial literacy associated 12 increase compared median interest rate isolate usage modern technology online accounts one channel financial literacy positive association returns