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Full-Text Articles in Education
Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Does Retirement Make You Happy? A Simultaneous Equations Approach, Raquel Fonseca, Arie Kapteyn, Jinkook Lee, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
Continued improvements in life expectancy and fiscal insolvency of public pensions have led to an increase in pension entitlement ages in several countries, but its consequences for subjective well-being are largely unknown. Financial consequences of retirement complicate the estimation of effects of retirement on subjective well-being as financial circumstances may influence subjective well-being, and therefore, the effects of retirement are likely to be confounded by the change in income. At the same time, unobservable determinants of income are probably related with unobservable determinants of subjective wellbeing, making income possibly endogenous if used as control in subjective wellbeing regressions. To address …
Finance For All: The Impact Of Financial Literacy Training In Compulsory Secondary Education In Spain, Laura Hospido, Ernesto Villanueva, Gema Zamarro
Finance For All: The Impact Of Financial Literacy Training In Compulsory Secondary Education In Spain, Laura Hospido, Ernesto Villanueva, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
We estimate the impact on objective measures of financial literacy of a 10-hour financial education program among 15-year-old students in compulsory secondary schooling. We use a matched sample of students and teachers in Madrid and two different estimation strategies. Firstly, we use reweighting estimators to compare the performance in a test of financial knowledge of students in treatment and control schools. In another specification, we use school fixed-effect estimates of the effect of the course on changes in scores in tests of financial knowledge. The program increased treated students’ financial knowledge by between one-fourth and one-third of a standard deviation. …
Disentangling Disadvantage: Can We Distinguish Good Teaching From Classroom Composition?, Gema Zamarro, John Engberg, Juan Esteban Saavedra, Jennifer Steele
Disentangling Disadvantage: Can We Distinguish Good Teaching From Classroom Composition?, Gema Zamarro, John Engberg, Juan Esteban Saavedra, Jennifer Steele
Education Reform Faculty and Graduate Students Publications
This paper focuses on the use of teacher value-added estimates to assess the distribution of effective teaching across students of varying socioeconomic disadvantage. We use simulation methods to examine the extent to which different commonly used teacher-value added estimators accurately capture both the rank correlation between true and estimated teacher effects and the distribution of effective teaching across student characteristics in the presence of classroom composition effects. Varying the amount of teacher sorting by student characteristics, the withinteacher variability in classroom composition, and the amount of student learning decay, we compare aggregated residuals, teacher random effects, and teacher fixed effects …