Gender, Marriage, and Asset Accumulation in the United States
AbstractWealth accumulation has important implications for the relative well-being of households. In this paper, we describe how household wealth in the United States varies by gender and family type. We find evidence of large differences in observed wealth between single-female-headed households and married couples. Although some of this gap reflects differences in observable characteristics correlated with gender and wealth – such as position in the life cycle, education, and family earnings – controlling for these characteristics reduces but does not eliminate the estimated wealth gap. The wealth holdings of single females in the U.S., controlling for these same characteristics, are also significantly lower than the wealth holdings of single males in the U.S. In contrast, observed wealth gaps between genders in a sub-sample of young households disappear when controlling for observable characteristics, suggesting either that these gaps are disappearing for younger households or that these gaps do not emerge until later in life.
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Bibliographic InfoPaper provided by University of Michigan, Michigan Retirement Research Center in its series Working Papers with number wp109.
Length: 36 pages
Date of creation: Dec 2005
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Other versions of this item:
- Lucie Schmidt & Purvi Sevak, 2006. "Gender, Marriage, And Asset Accumulation In The United States," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 139-166.
- Lucie Schmidt & Purvi Sevak, 2006. "Gender, Marriage, and Asset Accumulation in the United States," Department of Economics Working Papers 2006-06, Department of Economics, Williams College.
- D3 - Microeconomics - - Distribution
- J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
- J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-05 (All new papers)
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