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What Explains The Gender Gap In Financial Literacy? The Role Of Household Decision-Making, Raquel Fonseca, Kathleen J. Mullen, Gema Zamarro, Julie Zissimopoulos
What Explains The Gender Gap In Financial Literacy? The Role Of Household Decision-Making, Raquel Fonseca, Kathleen J. Mullen, Gema Zamarro, Julie Zissimopoulos
Education Reform Faculty and Graduate Students Publications
Research has shown that financial illiteracy is widespread among women, and that many women are unfamiliar with even the most basic economic concepts needed to make saving and investment decisions. This gender gap in financial literacy may contribute to the differential levels of retirement preparedness between women and men. However, little is known about the determinants of the gender gap in financial literacy. Using data from the RAND American Life Panel, we examined potential explanations for the gender gap including the role of marriage and division of financial decision-making among couples. We found that differences in the demographic characteristics of …