Chair of Financial Markets

Credit: Anna Logue

Prof. Dr. Tabea Bucher-Koenen

Tabea Bucher-Koenen holds the Chair of Financial Markets at the University of Mannheim. She has also been Head of the research area “Pensions and Sustainable Financial Markets” at ZEW – Leibniz Centre for European Economic Research. She is also Co-director of the Mannheim Institute for Financial Education (MIFE).

She teaches the course FIN 366 – Household Finance and the course FIN 804 – Econometrics of Financial Markets.

Research interests

Household finance
Financial literacy
Economic consequences of demographic change
Private and public pension systems
Impact of long-term financial decisions

Bucher-Koenen, T., Hackethal, A., Koenen, J. and Laudenbach, C. (2025). Gender differences in financial advice. American Economic Review : AER (forthcoming).
Bucher-Koenen, T., Alessie, R., Lusardi, A. and van Rooij, M. (2024). Fearless woman: Financial literacy, confidence, and stock market participation. Management Science, 1–17.
Coile, C., Wise, D., Börsch-Supan, A., Gruber, J., Milligan, K., Woodbury, R., Baker, M., Banks, J., Behaghel, L., Ben Salem, M., Bingley, P., Blanchet, D., Blundell, R., Boldrín, M., Bozio, A., Brugiavini, A., Bucher-Koenen, T., Buia, R. E., Caroli, E., Debrand, T., Dellis, A., Desmet, R., de Vos, K., Diamond, P., Emmerson, C., Ferrari, I., Fraikin, A.-L., Fujii, M., García-Gómez, P., Garcia-Mandicó, S., Goll, N., Gupta, N. D., Jiménez-Martín, S., Johansson, P., Johnson, P., Jørgensen, M., Jousten, A., Jürges, H., Kallestrup-Lamb, M., Kalwij, A., Kapteyn, A., Kohnz, S., Laun, L., Lefebvre, M., Mahieu, R., Mastrobuoni, G., Meghir, C., Oishi, A., Oshio, T., Palme, M., Pasini, G., Pedersen, P., Pelé, L.-P., Peracchi, F., Perelman, S., Pestieau, P., Prost, C., Rabaté, S., Rausch, J., Roger, M., Schirle, T., Schnabel, R., Schuth, M., Shimizutani, S., Smith, S., Stijns, J.-P., Sturrock, D., Svensson, I., Tetlow, G., Thiel, L., Tô, M., Tréguier, J., Usui, E., Vall-Castelló, J., Walraet, E., Weber, G. and Yashiro, N. (2024). Social security and retirement around the world: lessons from a long-term collaboration. Journal of Pension Economics and Finance : JPEF, 1–23.
Aprea, C. and Bucher-Koenen, T. (2023). Financial Literacy im gesellschaftlichen Kontext: Relevanz, empirische Evidenz und Erfolgsfaktoren. DAV Kompass der Deutschen Gesellschaft für Versicherungs- und Finanzmathematik e. V., 2023, 7–8.
Bucher-Koenen, T. (2023). Alterung und Konsum – wo stehen wir und was steht bevor? Ifo-Schnelldienst, 76, 29–32.
Bucher-Koenen, T., Janssen, B., Knebel, C. and Tzamourani, P. (2023). Financial literacy, stock market participation, and financial wellbeing in Germany. Journal of Financial Literacy and Wellbeing : FLW, 1, 486–513.
Bucher-Koenen, T., Knebel, C. and Meyer, C. (2023). Die Rolle der betrieblichen Altersvorsorge für die Einkünfte im Alter – aktuelle Evidenz und Datengrundlagen. Betriebliche Altersversorgung : BetrAV, 78, 286–303.
Börsch-Supan, A., Bucher-Koenen, T., Hurd, M. D. and Rohwedder, S. (2023). Saving regret and procrastination. Journal of Economic Psychology, 94, 1–16.
Aprea, C., Bucher-Koenen, T., Cziriak, M., Gilan, D., Hahad, O. and Lohner, M. (2022). Finanzielle Vulnerabilität in der Coronakrise : Potenzielle Auslöser, Risikofaktoren, finanzielles Anpassungsverhalten und Inanspruchnahme sozialpolitischer Unterstützung. Impuls, 2022, 1–4.
Börsch-Supan, A., Bucher-Koenen, T., Goll, N. and Hanemann, F. (2022). Targets missed: three case studies exploiting the linked SHARE-RV data. Journal of Pension Economics and Finance : JPEF, 21, 1–21.
Bucher-Koenen, T. and Knebel, C. (2021). Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich? Vierteljahrshefte zur Wirtschaftsforschung, 90, 11–32.
Bucher-Koenen, T., Farbmacher, H., Guber, R. and Vikström, J. (2020). Double trouble: The burden of child-rearing and working on maternal mortality. Demography, 57, 559–576.
Börsch-Supan, A., Bucher-Koenen, T. and Hanemann, F. (2020). Early determinants of work disability in an international perspective. Demography, 57, 1853-1879.
Bucher-Koenen, T. and Lamla-Dietrich, B. (2018). The long shadow of socialism: Puzzling evidence on East‐West German differences in financial literacy. Economic Notes : Economic Review of Banca Monte dei Paschi di Siena, 47, 413–438.
Börsch-Supan, A., Bucher-Koenen, T., Kutlu-Koc, V. and Goll, N. (2018). Dangerous flexibility – retirement reforms reconsidered. Economic Policy, 33, 315–355.
Antonova, L., Bucher-Koenen, T. and Mazzonna, F. (2017). Long-term health consequences of recessions during working years. Social Science & Medicine, 187, 134–143.
Bucher-Koenen, T., Lusardi, A., Alessie, R. and van Rooij, M. (2017). How financially literate are women? An overview and new insights. Journal of Consumer Affairs : JCA, 51, 255–283.
Börsch-Supan, A., Bucher-Koenen, T. and Rausch, J. (2016). Szenarien für eine nachhaltige Finanzierung der Gesetzlichen Rentenversicherung. Ifo-Schnelldienst, 69, 31–40.
Börsch-Supan, A., Bucher-Koenen, T., Coppola, M. and Lamla-Dietrich, B. (2015). Savings in times of demographic change: Lessons from the German experience. Journal of Economic Surveys, 29, 807–829.
Bucher-Koenen, T. and Ziegelmeyer, M. (2014). Once burned, twice shy? Financial literacy and wealth losses during the financial crisis. Review of Finance, 18, 2215-2246.
Bucher-Koenen, T. and Lusardi, A. (2011). Financial literacy and retirement planning in Germany. Journal of Pension Economics and Finance : JPEF, 10, 565–584.

Bucher-Koenen, T., Fessler, P. and Silgoner, M. (2025). Understanding overplacement in risk perception: Implications for financial resilience. SUERF Policy Brief, 1061. Wien: SUERF – The European Money and Finance Forum.
Bucher-Koenen, T., Herforth, A.-L., Kirschenmann, K. and Ravanbakhshhabibabadi, M. (2025). Financing the green transition: The role of private capital. ZEW policy brief, 2025–04. Mannheim.
Bucher-Koenen, T., Cziriak, M. and Alessie, R. (2024). Beyond knowledge: Confidence and the gender gap in financial literacy. ZEW Discussion Papers, 24–083. Mannheim.
Bucher-Koenen, T., Fessler, P. and Silgoner, M. (2024). Households' risk perceptions, overplacement, and financial literacy. Working Paper / Österreichische Nationalbank, 259. Wien: Österreichische Nationalbank.
Bucher-Koenen, T., Janssen, B., Knebel, C. and Tzamourani, P. (2024). Financial literacy, stock market participation, and financial well-being in Germany. ZEW Discussion Papers, 23–071. Mannheim.
Rohwedder, S., Hurd, M. D., Börsch-Supan, A. and Bucher-Koenen, T. (2024). Self-assessed savings adequacy before and after the COVID-19 pandemic. University of Michigan Retirement and Disability Research Center (MRDRC) / Working Paper, 2024–488. Michigan: University of Michigan Retirement and Disability Research Center (MRDRC).
Bucher-Koenen, T., Cziriak, M. and Aprea, C. (2023). Wie haben sich Coronakrise und Preissteigerungen auf die Altersvorsorge ausgewirkt? ZEW-Kurzexpertise, 23–03. Mannheim.
Bucher-Koenen, T., Fessler, P. and Silgoner, M. (2023). Households' financial resilience, risk perceptions, and financial literacy – evidence from a survey experiment. ZEW Discussion Papers, 23–074. Mannheim.
Bucher-Koenen, T., Knebel, C. and Weber, M. (2023). Do individuals accept fluctuations in pension income? ZEW Discussion Papers, 23–019. Mannheim.
Bucher-Koenen, T., Hackethal, A., Kasinger, J. and Laudenbach, C. (2022). Disparities in financial literacy, pension planning, and saving behavior. ZEW Discussion Papers, 22–037. Mannheim.
Aprea, C., Bucher-Koenen, T., Cziriak, M. and Gilan, D. (2021). Finanzielle Verluste und sozialpolitische Unterstützung von Haushalten in der Corona-Krise : eine Befragung der deutschen Erwerbsbevölkerung ab 30 Jahren während des zweiten Lockdowns im Dezember 2020 bis Januar 2021. ZEW-Kurzexpertise, 21–14. Mannheim.
Bucher-Koenen, T., Alessie, R., Lusardi, A. and van Rooij, M. (2021). Fearless woman: Financial literacy and stock market participation. ZEW Discussion Papers, 21–015. Mannheim.
Bucher-Koenen, T., Ferrari, I. and Pettinicchi, Y. (2021). Pension knowledge and the effectiveness of pension reforms. MEA Discussion Papers, 06–2021. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T., Hackethal, A., Koenen, J. and Laudenbach, C. (2021). Gender differences in financial advice. SAFE Working Paper, 309. Frankfurt am Main: University of Frankfurt.
Bucher-Koenen, T. and Knebel, C. (2021). Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich? ZEW Discussion Papers, 21–016. Mannheim: ZEW.
Bucher-Koenen, T., Knebel, C. and Meyer, C. (2021). Die Rolle der betrieblichen Altersvorsorge für die Einkünfte im Alter – aktuelle Evidenz und Datengrundlagen. ZEW Discussion Papers, 21–099. Mannheim.
Bucher-Koenen, T., Farbmacher, H., Guber, R. and Vikström, J. (2019). Double trouble: The burden of child rearing and working on maternal mortality. München [u. a.].
Bucher-Koenen, T., Hackethal, A., Koenen, J. and Laudenbach, C. (2019). Do seemingly smarter people get better advice? Mannheim.
Börsch-Supan, A., Bucher-Koenen, T., Goll, N. and Hanemann, F. (2019). Targets missed: three case studies exploiting the linked SHARE-RV data. MEA Discussion Papers, 04–2019. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T. and Hanemann, F. (2018). Early determinants of work disability in an international perspective. NBER Working Paper, 25142. Cambridge, MA.
Börsch-Supan, A., Bucher-Koenen, T., Hurd, M. D. and Rohwedder, S. (2018). Saving regret. NBER Working Paper, 25238. Cambridge, MA.
Hackethal, A., Bucher-Koenen, T., Kasinger, J. and Laudenbach, C. (2018). Wie viel Rente wirst du bekommen? – Pilotstudie zur Einführung einer Renteninformationsplattform in Deutschland. SAFE White Paper, 57. Frankfurt a. M.: Sustainable Architecture for Finance in Europe, SAFE.
Bucher-Koenen, T., Alessie, R., Lusardi, A. and van Rooij, M. (2017). Fearless girl! Women, confidence, and financial literacy. München [u. a.]: MEA [u. a.].
Börsch-Supan, A., Bucher-Koenen, T. and Hanemann, F. (2017). Does disability insurance improve health and well-being? MEA Discussion Papers, 09–2017. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T. and Hanemann, F. (2017). Early determinants of work disability in an international perspective. MEA Discussion Papers, 05–2017. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Kutlu-Koc, V. and Goll, N. (2017). Dangerous flexibility – retirement reforms reconsidered. MEA Discussion Papers, 03–2017. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T., Lusardi, A., Alessie, R. and van Rooij, M. (2016). How financially literate are women? An overview and new insights. GFLEC Working Paper Series, 2016–1. Washington, DC: The George Washington University School of Business, Global Financial Literacy Excellence Center.
Börsch-Supan, A., Bucher-Koenen, T., Ferrari, I., Kutlu-Koc, V. and Rausch, J. (2016). The development of the pension gap and German households' saving behavior. MEA Discussion Papers, 02–2016. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Goll, N. and Maier, C. (2016). 15 Jahre Riester – eine Bilanz. MEA Discussion Papers, 06–2016. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Goll, N. and Maier, C. (2016). 15 Jahre Riester – eine Bilanz. Arbeitspapier / Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung, 12/2016. Wiesbaden.
Börsch-Supan, A., Bucher-Koenen, T. and Rausch, J. (2016). Szenarien für eine nachhaltige Finanzierung der Gesetzlichen Rentenversicherung. MEA Discussion Papers, 03–2016. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T. and Koenen, J. (2015). Do seemingly smarter consumers get better advice? MEA Discussion Papers, 01–2015. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Kluth, S., Hanemann, F. and Goll, N. (2015). Erwerbsbeteiligung und Erwerbsintensität Älterer in Deutschland vor und nach dem Renteneintritt. MEA Discussion Papers, 04–2015. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Kluth, S., Haupt, M. and Goll, N. (2015). Vor- und Nachteile höherer Flexibilität als Instrument zur Erhöhung der Beschäftigung Älterer. MEA Discussion Papers, 06–2015. München: Munich Center for the Economics of Aging.
Börsch-Supan, A., Bucher-Koenen, T., Kluth, S., Kutlu-Koc, V. and Goll, N. (2015). Internationale Evidenz zu flexiblen Übergängen in den Ruhestand. MEA Discussion Papers, 05–2015. München: Munich Center for the Economics of Aging.
Antonova, L., Bucher-Koenen, T. and Mazzonna, F. (2014). Macroeconomic crunches during working years and health outcomes later in life. MEA Discussion Papers, 20–2014. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T. and Lamla-Dietrich, B. (2014). The long shadow of socialism: On East-West German differences in financial literacy. MEA Discussion Papers, 05–2014. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T., Lusardi, A., Alessie, R. and van Rooij, M. (2014). How financially literate are women? An overview and new insights. MEA Discussion Papers, 19–2014. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T., Lusardi, A., Alessie, R. and van Rooij, M. (2014). How financially literate are women? An overview and new insights. NBER Working Paper, 20793. Cambridge, MA.
Börsch-Supan, A., Bucher-Koenen, T., Coppola, M. and Lamla-Dietrich, B. (2014). Savings in times of demographic change: Lessons from the German experience. MEA Discussion Papers, 18–2014. München: Munich Center for the Economics of Aging.
Gasche, M., Bucher-Koenen, T., Haupt, M. and Angstmann, S. (2013). Die Kosten der Riester-Rente im Vergleich. MEA Discussion Papers, 04–2013. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T. and Kluth, S. (2012). Subjective life expectancy and private pensions. MEA Discussion Papers, 14–2012. München: Munich Center for the Economics of Aging.
Bucher-Koenen, T. (2011). Financial literacy, Riester pensions, and other private old age provision in Germany. MEA Discussion Papers, 250–2011. Mannheim.
Bucher-Koenen, T. and Lusardi, A. (2011). Financial literacy and retirement planning in Germany. MEA Discussion Papers, 239–2011. Mannheim.
Bucher-Koenen, T. and Schmidt, C. (2011). Time (in)consistent food choice of children and teenagers. MEA Discussion Papers, 251–2011. Mannheim.
Bucher-Koenen, T. and Ziegelmeyer, M. (2011). Who lost the most? Financial literacy, cognitive abilities, and the financial crisis. MEA Discussion Papers, 234–2011. Mannheim.

Bucher-Koenen, T. and Kluth, S. (2013). Subjective life expectancy and private pensions. In , Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013 : Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung (S. 1–35). , ZBW: Kiel.

Bucher-Koenen, T., Knebel, C. and Meyer, C. (2021). Die Rolle der betrieblichen Altersvorsorge für die Einkünfte im Alter – aktuelle Evidenz und Datengrundlagen : Projektbericht für das Forschungsnetzwerk Alterssicherung (FNA) der Deutschen Rentenversicherung Bund. Berlin: Deutsche Rentenversicherung Bund.

Aprea, C., Bucher-Koenen, T., Cziriak, M., Gilan, D. and Lohner, M. (2023). Multiple Facetten der Resilienz von vulnerablen Verbraucherinnen und Verbrauchern im Umgang mit finanziellen Schocks: Erkenntnisse aus der Corona- Pandemie. In Verbraucherresilienz : Risikofaktoren, Vulnerabilitäten und Interventionen (S. 69–84). Baden-Baden: Nomos.
Jürges, H., Thiel, L., Bucher-Koenen, T., Rausch, J., Schuth, M. and Börsch-Supan, A. (2016). Health, financial incentives, and early retirement: Microsimulation evidence for Germany. In Social security programs and retirement around the world : disability insurance programs and retirement (S. 285–330). Chicago, IL ; London: University of Chicago Press.
Bucher-Koenen, T., Schütz, J. and Spindler, M. (2015). Long-term care insurance across Europe. In Ageing in Europe – supporting policies for an inclusive society (S. 353–368). Berlin [u. a.]: De Gruyter.
Börsch-Supan, A., Alt, B. and Bucher-Koenen, T. (2015). Early retirement for the underprivileged? Using the record-linked SHARE-RV data to evaluate the most recent German pension reform. In Ageing in Europe – supporting policies for an inclusive society (S. 267–278). Berlin [u. a.]: De Gruyter.
Bucher-Koenen, T. and Mazzonna, F. (2013). The recent economic crisis and old-age health in Europe. In Active ageing and solidarity between generations in Europe : first results from SHARE after the economic crisis (S. 233–242). Berlin [u. a.]: De Gruyter.