Gender, Financial Literacy and Pension Savings

Arbeitspapier

Using micro-data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey this paper examines the relationship between the gender gap in financial literacy and the gender gap in pension savings amongst non-retired adults aged 18-64 in 2018. A simple theoretical model is presented. It implies two empirical specifications: a reduced-form specification where the focus is on pension savings and a more structural specification where the focus is on the "pension return" (the ratio of pension savings to cumulative earnings). Oaxaca-Blinder decomposition analysis suggests that around 8.5 per cent of the gender gap in pension savings may be attributed to the gender gap in financial literacy. This finding holds even in the presence of controls for financial risk tolerance. Policy implications and directions for future research are discussed in the paper.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 15250

Klassifikation und Themen

• Klassifikation: Wirtschaft ; National Government Expenditures and Welfare Programs ; Economics of Gender; Non-labor Discrimination ; Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
• Thema: pension savings ; superannuation ; financial literacy ; gender gap ; decomposition

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Preston, Alison ; Wright, Robert E.
• Ereignis: Veröffentlichung
• (wer): Institute of Labor Economics (IZA)
• (wo): Bonn
• (wann): 2022

Weitere Informationen

• Handle: http://hdl.handle.net/10419/263466
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ