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Intrahousehold allocation of financial resources: evidence from South Korean individual bank accounts

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Author Info
Jungmin Lee ()
Mark L. Pocock ()

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Abstract

Using individual bank account data from South Korea, where joint accounts are rare and the legal system emphasizes the individuality of financial transactions, we examine the distribution of financial resources between spouses within households. We find that each member’s share of household savings depends on the balance of bargaining power. We also find that the wife’s bargaining power increases total household savings. The findings deviate from the unitary model. Copyright Springer Science+Business Media, LLC 2007

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File URL: http://hdl.handle.net/10.1007/s11150-007-9004-3
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Publisher Info
Article provided by Springer in its journal Review of Economics of the Household.

Volume (Year): 5 (2007)
Issue (Month): 1 (March)
Pages: 41-58
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Handle: RePEc:kap:reveho:v:5:y:2007:i:1:p:41-58

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Web page: http://www.springerlink.com/link.asp?id=109451

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Related research
Keywords: Savings; Household bargaining; D1; E2;

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References listed on IDEAS
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  1. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Discussion Papers 96-01, University of Copenhagen. Department of Economics.
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  2. François Bourguignon & Martin Browning & Pierre-André Chiappori & Valérie Lechene, 1993. "Intra Household Allocation of Consumption: A Model and some Evidence from French Data," Annales d'Economie et de Statistique, ADRES, issue 29, pages 08, Janvier-M. [Downloadable!]
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  3. Siwan Anderson & Jean-Marie Baland, 2002. "The Economics Of Roscas And Intrahousehold Resource Allocation," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 963-995, August. [Downloadable!] (restricted)
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  4. Shelly J. Lundberg & Jennifer Ward-Batts, 2000. "Saving for Retirement: Household Bargaining and Household Net Worth," Working Papers wp004, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
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  5. Grossbard-Shechtman, Shoshana Amyra, 1984. "A Theory of Allocation of Time in Markets for Labour and Marriage," Economic Journal, Royal Economic Society, vol. 94(376), pages 863-82, December. [Downloadable!] (restricted)
  6. Browning, Martin & Francois Bourguignon & Pierre-Andre Chiappori & Valerie Lechene, 1994. "Income and Outcomes: A Structural Model of Intrahousehold Allocation," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1067-96, December. [Downloadable!] (restricted)
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  7. M. Browning & P. A. Chiappori, 1998. "Efficient Intra-Household Allocations: A General Characterization and Empirical Tests," Econometrica, Econometric Society, vol. 66(6), pages 1241-1278, November.
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  8. Martin Browning & Pierre-André Chiappori & Valérie Lechene, 2006. "Collective and Unitary Models: A Clarification," Review of Economics of the Household, Springer, vol. 4(1), pages 5-14, 03. [Downloadable!] (restricted)
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  9. Johnson, William R & Skinner, Jonathan, 1986. "Labor Supply and Marital Separation," American Economic Review, American Economic Association, vol. 76(3), pages 455-69, June. [Downloadable!] (restricted)
  10. Maurizio Mazzocco, 2004. "Saving, Risk Sharing, and Preferences for Risk," American Economic Review, American Economic Association, vol. 94(4), pages 1169-1182, September. [Downloadable!]
  11. Lundberg, Shelly & Pollak, Robert A, 1996. "Bargaining and Distribution in Marriage," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 139-58, Fall. [Downloadable!] (restricted)
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