Author
Gema Zamarro
Other affiliations: RAND Corporation, CEMFI, Frederick S. Pardee RAND Graduate School ...read more
Bio: Gema Zamarro is an academic researcher from University of Arkansas. The author has contributed to research in topics: Conscientiousness & Financial literacy. The author has an hindex of 19, co-authored 104 publications receiving 2556 citations. Previous affiliations of Gema Zamarro include RAND Corporation & CEMFI.
Papers published on a yearly basis
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TL;DR: Estimates indicate that retirement leads to a 35 percent decrease in the probability of reporting to be in fair, bad, or very bad health, and an almost one standard deviation improvement in the health index, indicating there are long-lasting health differences.
Abstract: What are the health impacts of retirement? As talk of raising retirement ages in pensions and social security schemes continues around the world, it is important to know both the costs and benefits for the individual as well as government budgets. The authors use the Survey of Health, Aging and Retirement in Europe (SHARE) dataset to address this question in a multicountry setting. Statutory retirement ages clearly induce retirement, but are not related to an individual's health. The authors find significant evidence that retirement has a health-preserving effect on overall general health but no evidence that retiring at younger ages has a health-preserving effect.
367 citations
TL;DR: In this article, the authors used the Survey of Health, Ageing and Retirement in Europe (SHARE) dataset to address the question of what are the health impacts of retirement, and found significant evidence that retirement has a health-preserving effect on overall general health.
314 citations
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TL;DR: It is found that financial decision making of couples is not centralized in one spouse although it is sensitive to the relative education level of spouses.
Abstract: 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, the authors examined potential explanations for the gender gap including the role of marriage and division of financial decision-making among couples. They found that differences in the demographic characteristics of women and men did not explain much of the financial literacy gap, whereas education, income and current and past marital status reduced the observed gap by around 25%. Oaxaca decomposition revealed the great majority of the gender gap in financial literacy is not explained by differences in covariates - characteristics of men and women - but due to coefficients, or how literacy is produced. They did not find strong support for specialization in financial decision-making within couples by gender. Instead, they found that decision-making within couples was sensitive to the relative education level of spouses for both women and men.
288 citations
TL;DR: This article examined whether teacher licensure test scores and other teacher attributes affect elementary student achievement and found that teachers' test scores are unrelated to teacher success in the classroom, while student achievement is unaffected by whether classroom teachers have advanced degrees.
267 citations
TL;DR: This article examined potential explanations for the gender gap in financial literacy, including the role of marriage and who within a couple makes the financial decisions, and found that financial decision making of couples is not centralized in one spouse although it is sensitive to the relative education level of spouses.
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.
250 citations
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TL;DR: In this paper, the authors investigated conditions sufficient for identification of average treatment effects using instrumental variables and showed that the existence of valid instruments is not sufficient to identify any meaningful average treatment effect.
Abstract: We investigate conditions sufficient for identification of average treatment effects using instrumental variables. First we show that the existence of valid instruments is not sufficient to identify any meaningful average treatment effect. We then establish that the combination of an instrument and a condition on the relation between the instrument and the participation status is sufficient for identification of a local average treatment effect for those who can be induced to change their participation status by changing the value of the instrument. Finally we derive the probability limit of the standard IV estimator under these conditions. It is seen to be a weighted average of local average treatment effects.
3,154 citations
TL;DR: A survey of factor analytic studies of human cognitive abilities can be found in this paper, with a focus on the role of factor analysis in human cognitive ability evaluation and cognition. But this survey is limited.
Abstract: (1998). Human cognitive abilities: A survey of factor analytic studies. Gifted and Talented International: Vol. 13, No. 2, pp. 97-98.
2,388 citations
TL;DR: An assessment of a rapidly growing body of economic research on financial literacy and thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy are offered.
Abstract: This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy.
2,176 citations
TL;DR: In this paper, the authors present an assessment of a rapidly growing body of economic research on financial literacy and examine the impact of financial literacy on economic decision-making in the United States and elsewhere.
Abstract: This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research, which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare, as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy. (JEL A20, D14, G11, I20, J26)
1,741 citations