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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

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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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Feminist Economics.

Volume (Year): 12 (2006)
Issue (Month): 1-2 ()
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

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  1. Shelly J. Lundberg & Jennifer Ward-Batts, 2000. "Saving for Retirement: Household Bargaining and Household Net Worth," Econometric Society World Congress 2000 Contributed Papers 1414, Econometric Society.
  2. John Gibson, 2000. "Sheepskin effects and the returns to education in New Zealand: Do they differ by ethnic groups?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 34(2), pages 201-220.
  3. 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.
  4. Chiappori, Pierre-Andre, 1992. "Collective Labor Supply and Welfare," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 437-67, June.
  5. John Gibson & Grant Scobie, 2001. "A cohort analysis of household income, consumption and saving," New Zealand Economic Papers, Taylor & Francis Journals, vol. 35(2), pages 196-216.
  6. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
  7. Doss, Cheryl R., 1996. "Testing among models of intrahousehold resource allocation," World Development, Elsevier, vol. 24(10), pages 1597-1609, October.
  8. 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.
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Citations

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Cited by:
  1. Sierminska, Eva & Frick, Joachim R. & Grabka, Markus M., 2008. "Examining the Gender Wealth Gap in Germany," IZA Discussion Papers 3573, Institute for the Study of Labor (IZA).
  2. Eva M. Sierminska & Joachim R. Frick & Markus M. Grabka, 2010. "Examining the gender wealth gap," Oxford Economic Papers, Oxford University Press, vol. 62(4), pages 669-690, October.
  3. Erin Ruel & Robert Hauser, 2013. "Explaining the Gender Wealth Gap," Demography, Springer, vol. 50(4), pages 1155-1176, August.
  4. Marieka Klawitter, 2008. "The effects of sexual orientation and marital status on how couples hold their money," Review of Economics of the Household, Springer, vol. 6(4), pages 423-446, December.

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