Abstract
Using newly collected data from the RAND American Life Panel, we examine potential explanations for the gender gap in financial literacy, including the role of marriage and who within a couple makes the financial decisions. Blinder–Oaxaca decomposition reveals the majority of the gender gap in financial literacy is not explained by differences in the characteristics of men and women—but rather differences in coefficients, or how literacy is produced. We find that financial decision making of couples is not centralized in one spouse although it is sensitive to the relative education level of spouses.
Publication
Journal of Consumer Affairs, Wiley Blackwell, vol. 46(1), pages 90-106, 03. Labour Market Gender
Related
- Poverty of the Aging Population: a cross-country analysis (2011). Editors Frechet, Guy, Gauvreau, Danielle and Poirier, Jean, Presses de l’Université de Montréal, December.
- Retirement and Cognitive Functioning: International Evidence (2017). Financial Decision Making and Retirement Security in an Aging World. Éditeurs Olivia S. Mitchell, P. Brett Hammond, et Stephen P. Utkus. Oxford University Press.
- Does Retirement Make you Happy? A Simultaneous Equations Approach (2017). Insights in the Economics of Aging, edited by David A. Wise. University of Chicago Press. NBER Book Series.
- A Longitudinal Study of Well-Being of Older Europeans: Does Retirement Matter? (2014). Journal of Population Ageing: Volume 7, Issue 1, Pages 21-41.
- Financial and Subjective Well-being of Older Europeans (2013). Ch. 12 in Ed. by Börsch-Supan, Axel, Brandt, Martina, Litwin, Howard and Weber, Guglielmo (eds.), Active Ageing and Solidarity between Generations in Europe. First Results from SHARE after the Economic Crisis.