Il giorno 28 Giugno 2022, Valentina Catapano, Borsista di Ricerca presso il dipartimento di Scienze Economiche e Aziendali dell’Università di Padova, presenterà il work in progress The Regulation of Competitive Pension Funds with Endogenous Financial Literacy. Catapano, V., Greco, L.
Abstract:
The long-run trend towards retirement schemes based on competitive, defined-contribution pension funds has motivated a growing interest in financial literacy as a tool to mitigate agency problems and myopic behaviors in pension investments. In this paper, we focus on the adverse selection problem affecting a market in which pension funds compete to attract households’ savings, and we model the investment in financial literacy as a costly screening technology. Relying on such a theoretical framework, we show that the (optimal) level of financial literacy is affected by several policy parameters, particularly the size of mandatory pension savings. Then, on the basis of a cost-benefit analysis, we assess alternative regulatory frameworks including policy tools such as the level of transparency that pension funds have to comply with and the public provision of investments in financial literacy.
La presentazione fa parte di un ciclo di seminari interni al Dipartimento di Scienze Economiche e Aziendali dell’Università di Padova. Il seminario potrà essere seguito sia in presenza in Sala Seminari di via del Santo 33 dalle ore 15, sia sulla piattaforma zoom al seguente link. Per tutti i dettagli visita la pagina dedicata: https://www.economia.
