register
Pierre-Carl Michaud

HEC Montréal, Canada, NBER, USA, and IZA, Germany

IZA World of Labor role

Author

Current position

Professor of Economics, HEC Montréal, Canada; Adjunct Economist, RAND Corporation, USA

Research interest

Health economics, economics of insurance and savings, economic challenges of demographic change

Website

https://www.iza.org/person/1353/pierre-carl-michaud

Positions/functions as a policy advisor

Associate Economist/Economist, RAND Corporation, 2005–2009

Past positions

Assistant/Associate Professor of Economics, Université du Québec à Montreal, 2010–2016

Qualifications

PhD Economics, Tilburg University, 2005

Selected publications

  • "Financial literacy and retirement planning in Canada." Journal of Pension Economics and Finance 16:3 (2017): 277–296 (with D. Boisclair and A. Lusardi).

  • "Optimal financial knowledge and wealth inequality." Journal of Political Economy 125:2 (2017): 431–477 (with A. Lusardi and O. S. Mitchell).

  • "Disease incidence and mortality among older Americans and Europeans." Demography 52:2 (2015): 593–611 (with A. Solé-Auró, M. Hurd, and E. Crimmins).

  • "Separating moral hazard from adverse selection and learning in automobile insurance: Longitudinal evidence from France." Journal of the European Economic Association 11:4 (2013): 897–917 (with G. Dionne and M. Dahchour).

  • "The value of medical and pharmaceutical interventions for reducing obesity." Journal of Health Economics 31:4 (2012): 630–643 (with D. Goldman, D. Lakdawalla, Y. Zheng, and A. H. Gailey).

article(s)

  • The value of financial literacy and financial education for workers

    A financially literate workforce helps the economy, but acquiring the needed skills can be costly

    Pierre-Carl Michaud, November 2017
    The level of financial literacy in developed countries is low and contributes to growing wealth inequality. Benefits from increasing the level of financial literacy include more effective saving for retirement and better debt management. However, there are significant costs in terms of time and money of acquiring financial literacy, which imply that the net value of acquiring financial literacy is heterogeneous in the population. This potentially makes designing effective interventions difficult.
    MoreLess