IDEAS home Printed from https://ideas.repec.org/a/kap/jfamec/v38y2017i4d10.1007_s10834-017-9521-z.html
   My bibliography  Save this article

Assessing the Relationship Between Gender, Household Structure, and Net Worth in the United States

Author

Listed:
  • Michelle Maroto

    (University of Alberta)

  • Laura Aylsworth

    (University of Alberta)

Abstract

This paper examines wealth disparities by gender and household structure in the United States using data from the 1998–2013 Survey of Consumer Finances. Following studies of economic insecurity, we placed households at the center of our analysis to highlight the interconnected nature of wealth with multiple aspects of family structure. We investigated net worth by both gender and household structure, which includes variation by partnership status and the presence of other adult relatives and their roles within the household. We found that wealth disparities were largest among single adult households, but these varied by gender. Female single adult households held some of the lowest levels of net worth, but after accounting for key explanations of wealth inequality, single male households actually held greater wealth than two-adult partnered households. This relationship further depended on the presence of extended family members, where gender disparities were smaller among households with other relatives present.

Suggested Citation

  • Michelle Maroto & Laura Aylsworth, 2017. "Assessing the Relationship Between Gender, Household Structure, and Net Worth in the United States," Journal of Family and Economic Issues, Springer, vol. 38(4), pages 556-571, December.
    • Handle: RePEc:kap:jfamec:v:38:y:2017:i:4:d:10.1007_s10834-017-9521-z
    DOI: 10.1007/s10834-017-9521-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10834-017-9521-z
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10834-017-9521-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Audrey Light, 2004. "Gender differences in the marriage and cohabitation income premium," Demography, Springer;Population Association of America (PAA), vol. 41(2), pages 263-284, May.
    2. Yu Xie & James Raymo & Kimberly Goyette & Arland Thornton, 2003. "Erratum to: “Economic Potential and Entry Into Marriage and Cohabitation”," Demography, Springer;Population Association of America (PAA), vol. 40(2), pages 1-1, May.
    3. van Rooij, Maarten & Lusardi, Annamaria & Alessie, Rob, 2011. "Financial literacy and stock market participation," Journal of Financial Economics, Elsevier, vol. 101(2), pages 449-472, August.
    4. Lusardi, Annamaria & Mitchell, Olivia S., 2007. "Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth," Journal of Monetary Economics, Elsevier, vol. 54(1), pages 205-224, January.
    5. Michelle Maroto, 2016. "Fifteen Years of Wealth Disparities in Canada: New Trends or Simply the Status Quo?," Canadian Public Policy, University of Toronto Press, vol. 42(2), pages 152-167, June.
    6. Yu Xie & James Raymo & Kimberl Goyette & Arland Thornton, 2003. "Economic potential and entry into marriage and cohabitation," Demography, Springer;Population Association of America (PAA), vol. 40(2), pages 351-367, May.
    7. Alexis Yamokoski & Lisa Keister, 2006. "The Wealth Of Single Women: Marital Status And Parenthood In The Asset Accumulation Of Young Baby Boomers In The United States," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 167-194.
    8. Pence Karen M., 2006. "The Role of Wealth Transformations: An Application to Estimating the Effect of Tax Incentives on Saving," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 5(1), pages 1-26, July.
    9. Matthijs Kalmijn, 2013. "The Educational Gradient in Marriage: A Comparison of 25 European Countries," Demography, Springer;Population Association of America (PAA), vol. 50(4), pages 1499-1520, August.
    10. N. Chiteji & Darrick Hamilton, 2002. "Family connections and the black-white wealth gap among middle-class families," The Review of Black Political Economy, Springer;National Economic Association, vol. 30(1), pages 9-28, June.
    11. Helen F. Ladd, 1998. "Evidence on Discrimination in Mortgage Lending," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 41-62, Spring.
    12. Tracey Warren & Karen Rowlingson & Claire Whyley, 2001. "Female finances: Gender Wage Gaps and Gender Assets Gaps," Work, Employment & Society, British Sociological Association, vol. 15(3), pages 465-488, September.
    13. Emily E. Wiemers, 2014. "The Effect of Unemployment on Household Composition and Doubling Up," Working Papers 2014_05, University of Massachusetts Boston, Economics Department.
    14. Emily Wiemers, 2014. "The Effect of Unemployment on Household Composition and Doubling Up," Demography, Springer;Population Association of America (PAA), vol. 51(6), pages 2155-2178, December.
    15. Edward N. Wolff, 2014. "Household wealth trends in the United States, 1983–2010," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(1), pages 21-43.
    16. Lucie Schmidt & Purvi Sevak, 2006. "Gender, Marriage, And Asset Accumulation In The United States," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 139-166.
    17. Keister,Lisa A., 2000. "Wealth in America," Cambridge Books, Cambridge University Press, number 9780521627511.
    18. Natasha Pilkauskas & Irwin Garfinkel & Sara McLanahan, 2014. "The Prevalence and Economic Value of Doubling Up," Demography, Springer;Population Association of America (PAA), vol. 51(5), pages 1667-1676, October.
    19. Grinstein-Weiss, Michal & Hun Yeo, Yeong & Zhan, Min & Charles, Pajarita, 2008. "Asset holding and net worth among households with children: Differences by household type," Children and Youth Services Review, Elsevier, vol. 30(1), pages 62-78, January.
    20. Grinstein-Weiss, Michal & Wagner, Kristen & Ssewamala, Fred M., 2006. "Saving and asset accumulation among low-income families with children in IDAs," Children and Youth Services Review, Elsevier, vol. 28(2), pages 193-211, February.
    21. Edward N. Wolff, 2002. "Inheritances and Wealth Inequality, 1989–1998," American Economic Review, American Economic Association, vol. 92(2), pages 260-264, May.
    22. Rebecca M. Blank, 2002. "Evaluating Welfare Reform in the United States," Journal of Economic Literature, American Economic Association, vol. 40(4), pages 1105-1166, December.
    23. Jonathan Vespa & Matthew Painter, 2011. "Cohabitation History, Marriage, and Wealth Accumulation," Demography, Springer;Population Association of America (PAA), vol. 48(3), pages 983-1004, August.
    24. Keister,Lisa A., 2000. "Wealth in America," Cambridge Books, Cambridge University Press, number 9780521621687.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michelle Maroto, 2018. "Saving, Sharing, or Spending? The Wealth Consequences of Raising Children," Demography, Springer;Population Association of America (PAA), vol. 55(6), pages 2257-2282, December.
    2. Michelle Maroto, 2019. "Sharing or Limiting the Wealth? Coresidence, Parental Support, and Wealth Outcomes in Canada," Journal of Family and Economic Issues, Springer, vol. 40(1), pages 102-116, March.
    3. Melissa J. Wilmarth, 2021. "Financial and Economic Well-Being: A Decade Review from Journal of Family and Economic Issues," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 124-130, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michelle Maroto, 2019. "Sharing or Limiting the Wealth? Coresidence, Parental Support, and Wealth Outcomes in Canada," Journal of Family and Economic Issues, Springer, vol. 40(1), pages 102-116, March.
    2. Michelle Maroto, 2018. "Saving, Sharing, or Spending? The Wealth Consequences of Raising Children," Demography, Springer;Population Association of America (PAA), vol. 55(6), pages 2257-2282, December.
    3. Philipp M. Lersch, 2017. "The Marriage Wealth Premium Revisited: Gender Disparities and Within-Individual Changes in Personal Wealth in Germany," Demography, Springer;Population Association of America (PAA), vol. 54(3), pages 961-983, June.
    4. Matthew Painter & Jonathan Vespa, 2012. "The Role of Cohabitation in Asset and Debt Accumulation During Marriage," Journal of Family and Economic Issues, Springer, vol. 33(4), pages 491-506, December.
    5. Jonathan Vespa & Matthew Painter, 2011. "Cohabitation History, Marriage, and Wealth Accumulation," Demography, Springer;Population Association of America (PAA), vol. 48(3), pages 983-1004, August.
    6. Alyssa Schneebaum & Miriam Rehm & Katharina Mader & Patricia Klopf & Katarina Hollan, 2014. "The Gender Wealth Gap in Europe," Department of Economics Working Papers wuwp186, Vienna University of Economics and Business, Department of Economics.
    7. Sierminska, Eva & Piazzalunga, Daniela & Grabka, Markus M., 2018. "Transitioning towards more equality? Wealth gender differences and the changing role of explanatory factors over time," GLO Discussion Paper Series 252, Global Labor Organization (GLO).
    8. Adrianne Frech & Matthew Painter & Jonathan Vespa, 2017. "Marital Biography and Mothers’ Wealth," Journal of Family and Economic Issues, Springer, vol. 38(2), pages 279-292, June.
    9. Miriam Rehm & Alyssa Schneebaum & Barbara Schuster, 2022. "Intra-Couple Wealth Inequality: What’s Socio-Demographics Got to Do with it?," European Journal of Population, Springer;European Association for Population Studies, vol. 38(4), pages 681-720, October.
    10. GRABKA Markus & MARCUS Jan & SIERMINSKA Eva, 2013. "Wealth distribution within couples and financial decision making," LISER Working Paper Series 2013-02, Luxembourg Institute of Socio-Economic Research (LISER).
    11. Alyssa Schneebaum & Miriam Rehm & Katharina Mader & Katarina Hollan, 2018. "The Gender Wealth Gap Across European Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 64(2), pages 295-331, June.
    12. Markus Grabka & Jan Marcus & Eva Sierminska, 2015. "Wealth distribution within couples," Review of Economics of the Household, Springer, vol. 13(3), pages 459-486, September.
    13. Jaanika Meriküll & Merike Kukk & Tairi Rõõm, 2021. "What explains the gender gap in wealth? Evidence from administrative data," Review of Economics of the Household, Springer, vol. 19(2), pages 501-547, June.
    14. Christelis, Dimitris & Georgarakos, Dimitris, 2013. "Investing at home and abroad: Different costs, different people?," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 2069-2086.
    15. Erin Ruel & Robert Hauser, 2013. "Explaining the Gender Wealth Gap," Demography, Springer;Population Association of America (PAA), vol. 50(4), pages 1155-1176, August.
    16. Grinstein-Weiss, Michal & Spader, Jonathan & Yeo, Yeong Hun & Taylor, Andréa & Books Freeze, Elizabeth, 2011. "Parental transfer of financial knowledge and later credit outcomes among low- and moderate-income homeowners," Children and Youth Services Review, Elsevier, vol. 33(1), pages 78-85, January.
    17. Zachary Winkle & Christiaan Monden, 2022. "Family Size and Parental Wealth: The Role of Family Transfers in Europe," European Journal of Population, Springer;European Association for Population Studies, vol. 38(3), pages 401-428, August.
    18. Ryan Compton & Daniel Giedeman & Leslie Muller, 2018. "Racial Differentials in the Wealth Effects of the Financial Crisis and Great Recession," Journal of Economics, Race, and Policy, Springer, vol. 1(2), pages 126-141, September.
    19. Tyson Brown, 2012. "The Intersection and Accumulation of Racial and Gender Inequality: Black Women’s Wealth Trajectories," The Review of Black Political Economy, Springer;National Economic Association, vol. 39(2), pages 239-258, June.
    20. Rehm, Miriam & Schneebaum, Alyssa & Schuster, Barbara, 2022. "Intra-couple wealth inequality: What's demographics got to do with it?," ifso working paper series 22, University of Duisburg-Essen, Institute for Socioeconomics (ifso).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jfamec:v:38:y:2017:i:4:d:10.1007_s10834-017-9521-z. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.