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Asset Accumulation And Family Size

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  • James Smith
  • Michael Ward

Abstract

Utilizing panel data on families, estimates are made of the effects of children on asset accululation, asset composition, consumption, and family income. Young children are found to depress savings for young families but to increase savings for marriages of duration greater than five years. The principal channel through which children act to reduce savings is the decline in female earnings associated with the child- induced withdrawal of wives from the labor force. Family consumption actually decreases with the birth of a child, but this reduction is insufficient, for young families, to offset the fall in income. For families in which the wife does not work the estimates suggest that savings may actually increase with children.

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File URL: http://hdl.handle.net/10.2307/2061102
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Bibliographic Info

Article provided by Springer in its journal Demography.

Volume (Year): 17 (1980)
Issue (Month): 3 (August)
Pages: 243-260

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Handle: RePEc:spr:demogr:v:17:y:1980:i:3:p:243-260

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Web page: http://www.springer.com/economics/journal/13524

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References

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  1. Michael R. Darby, 1975. "The Consumer Expenditure Function," NBER Working Papers 0079, National Bureau of Economic Research, Inc.
  2. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1, July.
  3. Smith, James P, 1979. "The Distribution of Family Earnings," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 163-92, October.
  4. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters, in: A Theory of the Consumption Function, pages 1-6 National Bureau of Economic Research, Inc.
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Cited by:
  1. 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.
  2. Lucie Schmidt & Purvi Sevak, 2005. "Gender, Marriage, and Asset Accumulation in the United States," Working Papers wp109, University of Michigan, Michigan Retirement Research Center.
  3. Belton, Willie & Uwaifo Oyelere, Ruth, 2008. "The Racial Saving Gap Enigma: Unraveling the Role of Institutions," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 37089, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. F. Thomas Juster & Joseph Lupton & James P. Smith & Frank Stafford, 2004. "Savings and Wealth; Then and Now," Labor and Demography 0403027, EconWPA.
  5. Cobb-Clark, Deborah A. & Hildebrand, Vincent, 2003. "The wealth and asset holdings of U.S.-born and foreign-born households: Evidence from SIPP data," IRISS Working Paper Series 2003-07, IRISS at CEPS/INSTEAD.
  6. James Smith, 1989. "Children Among the Poor," Demography, Springer, vol. 26(2), pages 235-248, May.

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