ÉSÉOC Conférence - Pierre-Carl Michaud, HEC

Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?
Friday 5 April 2019 à 14 h 30 to à 16 h 00
Location
Contact information
Contact person: 
Myra Yazbeck
Email: 
myazbeck@uOttawa.ca
Phone: 
613-562-5800
Extension: 
1156
Registration
Registration required: 
No
Cost to attend: 
Free of charge
Event language: 
Intended audience: 

ÉSÉOC Conférence We conduct a stated-choice experiment in which we analyze the ability of respondents to make choices between front and back-loaded tax-sheltered savings accounts in a well-specified environment. We embed a randomized financial education intervention within this experiment to assess whether respondents make better choices when provided with information. We then find that, relative to a control group, our financial education treatments improve general understanding of the tax implications of tax-deferred and post-tax saving accounts and increase the quality of choices made. We find substantial welfare gains from this intervention.