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Household bargaining over wealth and the adequacy of women's retirement incomes in New Zealand

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Author Info
John Gibson
Trinh Le
Grant Scobie

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Abstract

Bargaining models of household wealth accumulation point to a potential conflict of interest between husbands and wives. Wives are typically younger than their husbands and have longer life expectancy, so they must expect to finance a longer retirement period. Therefore, when they have greater relative bargaining power, households will accumulate more wealth. There is some weak evidence for this in the United States, but this article finds the opposite pattern in New Zealand, where women's greater bargaining power results in a lower net worth in the pre-retirement cohort of couples. In New Zealand, where public pensions are more generous than in the US and are not affected by holdings of private wealth or income, it may not be rational for women with greater relative bargaining power than their spouses to favor wealth accumulation. These results indicate the importance of the policy context when considering household bargaining models.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Feminist Economics.

Volume (Year): 12 (2006)
Issue (Month): 1-2 (January)
Pages: 221-246
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Handle: RePEc:taf:femeco:v:12:y:2006:i:1-2:p:221-246

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Related research
Keywords: Bargaining intrahousehold pensions retirement wealth JEL Codes: D31 J16 J26

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Doss, Cheryl R., 1996. "Testing among models of intrahousehold resource allocation," World Development, Elsevier, vol. 24(10), pages 1597-1609, October. [Downloadable!] (restricted)
  2. 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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  3. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January. [Downloadable!] (restricted)
  4. Filmer, Deon & Pritchett, Lant, 1998. "Estimating wealth effects without expenditure data - or tears : with an application to educational enrollments in states of India," Policy Research Working Paper Series 1994, The World Bank. [Downloadable!]
  5. Lundberg, Shelly & Startza, Richard & Stillman, Steven, 2003. "The retirement-consumption puzzle: a marital bargaining approach," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1199-1218, May. [Downloadable!] (restricted)
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  1. Shelley Phipps + Frances Woolley, 2006. "Control over Money and Wealth Accumulation in Canadian Families," Carleton Economic Papers 06-02, Carleton University, Department of Economics. [Downloadable!]
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