Household Financial Fragility During COVID -19: the Power of Financially Literate Women

This paper analyses household financial fragility during the COVID-19 pandemic. Considering the barging theory in households\u27 decision-making, this paper proposes that women\u27s financial literacy and their involvement in paid and unpaid work will influence family financial fragility in times of crisis. The results show that women\u27s financial literacy, their participation in the labour market, and their financial independence have a significant and positive effect on the family’s financial situation during the pandemic. Moreover, the level of women\u27s unpaid work was identified as a significant element that jeopardizes family financial stability. The results further support the bargaining power theory regarding a better understanding of the complexity of decision-making within households. The results point to a new channel for preserving family financial stability, through the improvement of women’s financial literacy and the development of institutional and social support for their participation in the labour market

Role of tourism and hotel accommodation in house prices

This paper investigates the influence of tourism and hotel accommodation on housing prices in 27 EU countries over the period from 2005 to 2018. The results of dynamic panel data confirmed the significant influence of standard housing prices determinants: economic growth, unemployment and credit to the private sector, whilst the population does not play a significant role. Our results empirically confirmed that tourism significantly increases housing prices regardless of used indicators. However, our main finding was that hotel accommodation plays a role as a buffer of the growth in housing prices caused by tourism. Obtained results provided evidence of interconnections among tourism, hotel accommodation and housing prices at a national level

Women’s decision-making on additional unpaid work during the COVID-19 pandemic: assessing the role of finance

This article investigates the determinants of women’s additional unpaid work during the specific circumstances of the COVID-19 pandemic lockdown. Apart from the influential factors usually investigated in the standard model of unpaid work, we contribute to recent research by including variables such as financial literacy and family financial fragility. Pandemic lockdown altered the normal functioning of families and created financial uncertainty. Thus, we hypothesised that women’s financial literacy and family financial fragility influenced women’s decision to take on less or more unpaid work and could alter the division of unpaid work between women and other family members. We employed realtime individual-level data from the survey that we conducted during the second lockdown restrictions in January and February 2021. Croatia is an interesting case to investigate unpaid work determinants because although it has joined the E.U. and accepted positive legal aspects of gender equality, conservative gender norms still dominate there. The results revealed that women’s financial literacy negatively affects women’s willingness to take on more unpaid work while the deteriorating family financial situation in the pandemic has a positive effec

Derivatives Markets Development and Country Political Risk

This paper investigates the impact of country political risk on currency derivatives market turnover for 19 countries. Previous empirical literature has confirmed the role that political risk has on financial institutions and the stock market development, whereas the relationship between currency derivatives and political risk has not been empirically investigated Therefore, taking into account the heterogeneity of the selected currency derivatives markets and a possible heterogeneity in the relationship between derivatives turnover and political risk, heterogeneous non-causality test in panels are employed. This method successfully deals with both types of heterogeneity. The results have confirmed the heterogeneous causality of political risk on currency derivatives markets. Moreover, political risk has a more significant effect on currency derivatives turnover in countries with a less developed financial system

Derivatives Markets Development and Country Political Risk

This paper investigates the impact of country political risk on currency derivatives market turnover for 19 countries. Previous empirical literature has confirmed the role that political risk has on financial institutions and the stock market development, whereas the relationship between currency derivatives and political risk has not been empirically investigated Therefore, taking into account the heterogeneity of the selected currency derivatives markets and a possible heterogeneity in the relationship between derivatives turnover and political risk, heterogeneous non-causality test in panels are employed. This method successfully deals with both types of heterogeneity. The results have confirmed the heterogeneous causality of political risk on currency derivatives markets. Moreover, political risk has a more significant effect on currency derivatives turnover in countries with a less developed financial system

Mirovinska pismenost studenata i formalna financijska edukacija

U radu se ispituje utjecaj formalnoga financijskog obrazovanja studenata u Republici Hrvatskoj na njihovu mirovinsku pismenost. Istraživanje je potaknuto rezultatima prethodnog istraživanja Pepur, Rimac Smiljanić i Vukava (2019), u kojemu se ispitivala financijska pismenost studenata ekonomskih fakulteta i analizirala njihova upoznatost s planiranjem mirovine. Nadovezujući se na rezultate spomenutog istraživanja, cilj ovog rada jest analizirati i utvrditi utjecaj formalne financijske edukacije na mirovinsku pismenost studenata, stoga je empirijsko istraživanje prošireno na studente svih znanstvenih i umjetničkih studijskih područja u Hrvatskoj. Rezultati istraživanja navode na zaključak da formalno financijsko obrazovanje „čini razliku“, odnosno pozitivno utječe na mirovinsko planiranje studenata i njihovu mirovinsku pismenost. Studenti ekonomskih u odnosu na studente neekonomskih studija imaju bolja financijska i mirovinska znanja, preferiraju složenije oblike ulaganja – mirovinske fondove i burzu, a znanja o upravljanju novcem koja su stekli na fakultetu utječu na njihove stavove o izboru vrste štednje za mirovinu. Navedeni rezultati potvrda su tezi o važnosti formalnog financijskog obrazovanja za bolju mirovinsku pismenost te njihov bolji financijski i životni standard i sigurnosti u razdoblju nakon umirovljenja

Women\u27s overload during the pandemic: Unpaid care work, financial well-being, and stress

This research examines the relationship between unpaid care work, financial well-being, and stress levels among women during the COVID 19 pandemic. The pandemic caused downturns in the economies of countries around the world and led to uncertainties and changes that created conditions for increased stress levels and consequently impaired well-being. In addition to social distancing and lock-down as measures to cope with the virus, working from home, home schooling, caring for sick and older family members, and financial problems have added burdens and have proven to be additional personal and family stressors. The findings are based on an online survey conducted among women during the second lock-down in Croatia. Additional unpaid care work and lower financial well-being affect the increased stress felt by women during the pandemic. This is especially pronounced among women who are more involved in paid work. During the pandemic, additional unpaid care work, increased involvement in paid work, and jeopardized financial well-being were found to be stressors for women. Our results clearly indicate the importance of women\u27s free time for their own and their families\u27 well-being

Mirovinska pismenost studenata i formalna financijska edukacija

U radu se ispituje utjecaj formalnoga financijskog obrazovanja studenata u Republici Hrvatskoj na njihovu mirovinsku pismenost. Istraživanje je potaknuto rezultatima prethodnog istraživanja Pepur, Rimac Smiljanić i Vukava (2019), u kojemu se ispitivala financijska pismenost studenata ekonomskih fakulteta i analizirala njihova upoznatost s planiranjem mirovine. Nadovezujući se na rezultate spomenutog istraživanja, cilj ovog rada jest analizirati i utvrditi utjecaj formalne financijske edukacije na mirovinsku pismenost studenata, stoga je empirijsko istraživanje prošireno na studente svih znanstvenih i umjetničkih studijskih područja u Hrvatskoj. Rezultati istraživanja navode na zaključak da formalno financijsko obrazovanje „čini razliku“, odnosno pozitivno utječe na mirovinsko planiranje studenata i njihovu mirovinsku pismenost. Studenti ekonomskih u odnosu na studente neekonomskih studija imaju bolja financijska i mirovinska znanja, preferiraju složenije oblike ulaganja – mirovinske fondove i burzu, a znanja o upravljanju novcem koja su stekli na fakultetu utječu na njihove stavove o izboru vrste štednje za mirovinu. Navedeni rezultati potvrda su tezi o važnosti formalnog financijskog obrazovanja za bolju mirovinsku pismenost te njihov bolji financijski i životni standard i sigurnosti u razdoblju nakon umirovljenja

Potiču li financijska znanja planiranje za mirovinu?

U radu se ispituje financijska pismenost studenata ekonomskih studija i analizira njihova upoznatost s planiranjem mirovine. Istraživanje je potaknuto rezultatima dosadašnjih studija koji svrstavaju mlade ljude u dio populacije s najnižom razinom financijske pismenosti. U radu se poseban naglasak stavlja na pogled studenata na pitanje planiranja za mirovinu. Naime, većina istraživanja ukazala je na nedovoljnu zainteresiranost pojedinaca upravo za ovaj segment štednje/ulaganja za starost, a koji je ključan u kontekstu očekivanih reformi mirovinskog sustava. Studente očekuje osamostaljivanje i stjecanje financijske neovisnosti koja za sobom povlači i određenu razinu odgovornosti za poduzete financijske odluke. Rezultati su pokazali da viša mirovinska znanja imaju studenti koji su iskazali bolja financijska znanja. Preferirani oblik štednje za mirovinu studenta ovisi o vrsti štednje/ulaganja za mirovinu koju imaju njihovi roditelji, a studenti koji su znanja o financijama stekli primarno na fakultetu/školi kao najpoželjniji oblik ulaganja za mirovinu odabiru mirovinske fondove. Rad daje doprinos postojećoj literaturi u području unaprjeđenja financijske pismenosti studenata s ciljem poboljšanja budućeg blagostanja nakon umirovljenja. Rezultati ovog istraživanja predstavljaju polazišnu točku za provedbu detaljnijeg istraživanja na ukupnoj studentskoj populaciji

Potiču li financijska znanja planiranje za mirovinu?

U radu se ispituje financijska pismenost studenata ekonomskih studija i analizira njihova upoznatost s planiranjem mirovine. Istraživanje je potaknuto rezultatima dosadašnjih studija koji svrstavaju mlade ljude u dio populacije s najnižom razinom financijske pismenosti. U radu se poseban naglasak stavlja na pogled studenata na pitanje planiranja za mirovinu. Naime, većina istraživanja ukazala je na nedovoljnu zainteresiranost pojedinaca upravo za ovaj segment štednje/ulaganja za starost, a koji je ključan u kontekstu očekivanih reformi mirovinskog sustava. Studente očekuje osamostaljivanje i stjecanje financijske neovisnosti koja za sobom povlači i određenu razinu odgovornosti za poduzete financijske odluke. Rezultati su pokazali da viša mirovinska znanja imaju studenti koji su iskazali bolja financijska znanja. Preferirani oblik štednje za mirovinu studenta ovisi o vrsti štednje/ulaganja za mirovinu koju imaju njihovi roditelji, a studenti koji su znanja o financijama stekli primarno na fakultetu/školi kao najpoželjniji oblik ulaganja za mirovinu odabiru mirovinske fondove. Rad daje doprinos postojećoj literaturi u području unaprjeđenja financijske pismenosti studenata s ciljem poboljšanja budućeg blagostanja nakon umirovljenja. Rezultati ovog istraživanja predstavljaju polazišnu točku za provedbu detaljnijeg istraživanja na ukupnoj studentskoj populaciji