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Will Women Save More Than Men? A Theoretical Model of Savings and Marriage

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  • Shoshana Amyra Grossbard

    () (Department of Economics,San Diego State University)

  • Alfredo Marvão Pereira

    () (Department of Economics, The College of William and Mary)

Abstract

This paper presents an inter-temporal model of individual behavior with uncertainty about marriage and divorce and which accommodates the possible presence of economies or diseconomies of scale from marriage. We show that a scenario of higher marriage rates and higher divorce rates will be associated with higher savings rates in the presence of economies of marriage and with lower savings rates in the presence of diseconomies of marriage. In the context of traditional gender roles, this implies higher saving rates by young men and lower saving rates by young women than in less traditional countries, the opposite being the case with saving rates of married women relative to those of married men. We establish the relevance of traditional gender roles and marital status to understanding cross-country variation in gender differentials in savings behavior.

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Bibliographic Info

Paper provided by Department of Economics, College of William and Mary in its series Working Papers with number 95.

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Length: 22 pages
Date of creation: 15 Sep 2010
Date of revision:
Handle: RePEc:cwm:wpaper:95

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Keywords: savings behavior; marriage; divorce; economies of marriage; gender roles;

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  1. Phipps, Shelley & Woolley, Frances, 2008. "Control over money and the savings decisions of Canadian households," The Journal of Socio-Economics, Elsevier, vol. 37(2), pages 592-611, April.
  2. Patricia Apps & Ray Rees, 2010. "Family labor supply, taxation and saving in an imperfect capital market," Review of Economics of the Household, Springer, vol. 8(3), pages 297-323, September.
  3. Anderson, K.S. & Baland, J-M., 2000. "The Economics of Roscas and Intra-Household Resource Allocation," Discussion Paper 2000-83, Tilburg University, Center for Economic Research.
  4. Massimo Guidolin & Elizabeth A. La Jeunesse, 2007. "The decline in the U.S. personal saving rate: is it real and is it a puzzle?," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 491-514.
  5. Almudena Sevilla-Sanz, 2010. "Household division of labor and cross-country differences in household formation rates," Journal of Population Economics, Springer, vol. 23(1), pages 225-249, January.
  6. Stephanie Seguino & Maria Sagrario Floro, 2003. "Does Gender have any Effect on Aggregate Saving? An empirical analysis," International Review of Applied Economics, Taylor and Francis Journals, vol. 17(2), pages 147-166.
  7. Joseph Lupton & James P. Smith, 1999. "Marriage, Assets, and Savings," Working Papers 99-12, RAND Corporation Publications Department.
  8. Horioka, C.Y., 1991. "Saving in Japan," ISER Discussion Paper 0248, Institute of Social and Economic Research, Osaka University.
  9. Jungmin Lee & Mark L. Pocock, 2007. "Intrahousehold allocation of financial resources: evidence from South Korean individual bank accounts," Review of Economics of the Household, Springer, vol. 5(1), pages 41-58, March.
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