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126 Ergebnisse, ab 111
  • Externe Monographien

    Active Learning Improves Financial Education: Experimental Evidence

    We conduct a randomized field experiment to study the effects of two financial education interventions offered to small-scale retailers in Uganda. The treatments contrast "active learning" with "traditional lecturing" within standardized lesson-plans. We find that active learning has a positive and economically meaningful impact on savings and investment outcomes, in contrast to insignificant impacts ...

    Berlin: ResearchGate, 2018, 73 S. | Tim Kaiser, Lukas Menkhoff
  • Externe Monographien

    Systematic Intervention and Currency Risk Premia

    Using data for the trades of 19 central banks intervening in currency markets, we show that leaning against the wind by individual central banks leads to "systematic intervention" in the aggregate central banking sector. This systematic intervention is driven by and impacts on the same factors that drive currency excess returns: carry, momentum, value, and a dollar factor. The sensitivity of an individual ...

    SSRN, 2018, 48 S. : Anh.
    (SSRN Papers)
    | Marcel Fratzscher, Lukas Menkhoff, Lucio Sarno, Maik Schmeling, Tobias Stöhr
  • Externe Monographien

    Does Financial Education Impact Financial Literacy and Financial Behavior, and if So, When?

    In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: Financial education is less effective for lowincome clients as well as in low and lower-middle ...

    Washington: World Bank Group, 2017, 75 S.
    (Policy Research Working Paper ; 8161)
    | Tim Kaiser, Lukas Menkhoff
  • Externe Monographien

    When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries

    This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under somecriteria. The policy works well in terms of smoothing the path of exchange rates, and in stabilizing the exchange rate in countries with narrow band regimes. Moving ...

    London: CEPR, 2017, 64 S.
    (Discussion Paper Series / Centre for Economic Policy Research ; 12510)
    | Marcel Fratzscher, Oliver Gloede, Lukas Menkhoff, Lucio Sarno,Tobias Stöhr
  • Externe Monographien

    Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

    In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: Financial education is less effective for low-income clients as well as in low and lower-middle ...

    Munich, Germany: Collaborative Research Center Transregio 190, 2017, 89 S.
    (Discussion paper / Rationality & Competition, CRC TRR 190 ; 37)
    | Tim Kaiser, Lukas Menkhoff
  • Externe Monographien

    Currency Value

    We assess the properties of currency value strategies based on real exchange rates. We find that real exchange rates have predictive power for the cross-section of currency excess returns. However, adjusting real exchange rates for key country-specific fundamentals (productivity, the quality of export goods, net foreign assets, and output gaps) better isolates information related to the currency risk ...

    London: CEPR, 2016, 51 S.
    (Discussion Paper Series / Centre for Economic Policy Research ; 11324)
    | Lukas Menkhoff, Lucio Sarno, Maik Schmeling, Andreas Schrimpf
  • Externe Monographien

    Politicians Promotion Incentives and Bank Risk Exposure in China

    Mannheim: ZEW, 2015, 52 S.
    (Discussion Paper / Zentrum für Europäische Wirtschaftsforschung ; 15-026)
    | Li Wang, Lukas Menkhoff, Michael Schröder, Xian Xu
  • Externe Monographien

    Equity Premium Prediction: Are Economic and Technical Indicators Instable?

    We show that technical indicators deliver economic value in predicting the U.S. equity premium. A crucial element of this value stems from the stability of return predictability over the full sample period from 1950 to 2013. Results tentatively improve over time and beat alternatives over sub-periods. By contrast, economic indicators work well only until the 1970s, thereafter they lose predictive power, ...

    Kiel: IfW, 2015, 42 S.
    (Kieler Arbeitspapiere ; 1987)
    | Fabian Baetje, Lukas Menkhoff
  • Zeitungs- und Blogbeiträge

    Sechs Wege für mehr Sicherheit bei der Versorgung mineralischer Rohstoffe

    In: Stiftung Energie und Klimaschutz (06.03.2023), Online-Artikel | Lukas Menkhoff
  • Zeitungs- und Blogbeiträge

    Financial Education is Effective and Efficient

    In: VoxEU.org (17.02.2022), [Online-Artikel] | Lukas Menkhoff, Tim Kaiser, Annamaria Lusardi, Carly Urban
126 Ergebnisse, ab 111
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