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The survey of financial competences (ECF): description and methods of the 2016 wave

Author

Listed:
  • Olympia Bover

    (Banco de España)

  • Laura Hospido

    (Banco de España)

  • Ernesto Villanueva

    (Banco de España)

Abstract

The Survey of Financial Competences (ECF) is a joint initiative of the Banco de España and the Comisión Nacional del Mercado de Valores (CNMV) aimed at measuring the financial competences of the adult population in Spain. Between 2016 and 2017, information has been collected for a large sample provided by the National Statistical Institute of randomly selected individuals, and representative of the whole Spanish population between 18 and 79 years of age and of each of its regions. This paper provides a detailed description of the most relevant methodological aspects in the design and implementation of the survey: the sample design, the questionnaire, the data collection process, the validation of the data, the computation of weights, and the imputation procedure.

Suggested Citation

  • Olympia Bover & Laura Hospido & Ernesto Villanueva, 2019. "The survey of financial competences (ECF): description and methods of the 2016 wave," Occasional Papers 1909, Banco de España.
    • Handle: RePEc:bde:opaper:1909
    as

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    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/19/Files/do1909e.pdf
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    References listed on IDEAS

    as
    1. van Rooij, Maarten & Lusardi, Annamaria & Alessie, Rob, 2011. "Financial literacy and stock market participation," Journal of Financial Economics, Elsevier, vol. 101(2), pages 449-472, August.
    2. Lusardi, Annamaria & Mitchell, Olivia S., 2011. "Financial literacy around the world: an overview," Journal of Pension Economics and Finance, Cambridge University Press, vol. 10(4), pages 497-508, October.
    3. Victor Stango & Jonathan Zinman, 2009. "Exponential Growth Bias and Household Finance," Journal of Finance, American Finance Association, vol. 64(6), pages 2807-2849, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. González Chapela, Jorge, 2020. "Patience goes a long way: Evidence from Spain," MPRA Paper 98711, University Library of Munich, Germany.
    3. Susana Párraga Rodríguez, 2019. "The effects of pension-related policies on household spending," Working Papers 1913, Banco de España.
    4. Jorge González Chapela, 2022. "Is there a patience premium on migration?," Empirical Economics, Springer, vol. 63(4), pages 2025-2055, October.

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    More about this item

    Keywords

    financial competences; personal finance; household finance; data collection; imputation; weights;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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