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Cherry Blossom Financial Education Institute | April 15, 2016

The 2nd Cherry Blossom Financial Education Institute was held on April 15, 2016. Over 100 papers and abstracts were submitted as a response to the call for papers, and 13 were selected for presentation at the Institute. Researchers from around the globe presented their work at the George Washington University School of Business. This year’s Institute was sponsored by the National Endowment for Financial Education.



Elsa Fornero, Professor of Economics and Former Italian Minister of Labor; Member of the Research Committee of the OECD International Network on Financial Education



Chair: Annamaria Lusardi, Global Financial Literacy Excellence Center, GW

Mariacristina Rossi, University of Turin: “Retirement Decisions, Eligibility and Financial Literacy”

Paper | Presentation

Sandro Ambuehl, Stanford University: “The Effect of Financial Education on the Quality of Decision Making”

Paper | Presentation

David Robinson, Duke University, and Anders Anderson, Stockholm School of Economics: “Precautionary Savings, Retirement Planning and Misperceptions of Financial Literacy”

Paper | Presentation


Chair: Billy Hensley, National Endowment for Financial Education

Carly Urban, Montana State University: “The Effects of Financial Education on Student Loan Amounts”

Paper | Presentation

Ernesto Villanueva, Banco de España: “The Impact of High School Financial Education on Financial Knowledge, Attitudes and Preferences: Evidence from a Randomized Trial”


Jamie Wagner, University of Nebraska-Omaha: “The Effects of Financial Education on Short-term and Long-term Financial Behaviors”

Abstract | Presentation


Chair: Michael Staten, Take Charge America Institute, University of Arizona

Lorenz Kueng, Northwestern University: “Explaining Consumption Excess Sensitivity with Near-Rationality: Evidence from Large Predetermined Payments”

Paper | Presentation

Jialan Wang, Consumer Financial Protection Bureau: “Liquidity Constraints and Budgeting Mistakes: Evidence from Social Security Recipients”

Paper | Presentation

Elisa Luciano, University of Turin: “Financial Inclusion and Life Insurance Demand; Evidence from Italian households”

Paper | Presentation

Jing Cai, University of Michigan: “Do Disaster Experience and Knowledge Affect Insurance Take-up Decisions?”

Paper | Presentation


Chair: William Walstad, University of Nebraska-Lincoln

Ethan Lieber, University of Notre Dame: “Social Effects in Financial Decision-Making”

Paper | Presentation

Stephen Roll, The Ohio State University: “The Impact of Credit Counseling on Consumer Outcomes: Evidence from a National Demonstration Program”

Paper | Presentation

Brett Theodos, Urban Institute: “An Evaluation of the Impacts and Implementation Approaches of Financial Coaching Programs”

Paper | Presentation





8:30 am - 5:30 pm

The George Washington University School of Business
Washington, D.C.