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Women’s Retirement Incomes in New Zealand: A Household Bargaining Approach

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Author Info
John Gibson
Trinh Le
Grant Scobie () (University of Waikato)

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Abstract

Bargaining models of household wealth accumulation point to a potential conflict of interest between husbands and wives. Since wives are typically younger than their husbands and have longer life expectancy, they have to finance a longer expected retirement period. Thus, it is argued that when women have greater relative bargaining power, households will accumulate higher levels of wealth. However, in this paper, exactly the opposite pattern is reported for New Zealand. To explain this contradiction of the pattern reported in the literature, we construct a consumption smoothing model of saving for retirement. The results suggest that in this setting it may be rational for women with greater bargaining power to favour greater current consumption rather than wealth accumulation. These results indicate the importance of defining the policy context precisely when considering the implications of household bargaining models.

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File URL: http://www.treasury.govt.nz/publications/research-policy/wp/2004/04-22/twp04-22.pdf
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Publisher Info
Paper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 04/22.

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Length: 23 pages
Date of creation: Sep 2004
Date of revision:
Handle: RePEc:nzt:nztwps:04/22

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Postal: New Zealand Treasury, PO Box 3724, Wellington, New Zealand
Phone: +64-4-472 2733
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Web page: http://www.treasury.govt.nz
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Related research
Keywords: Bargaining Intra-household Pensions Retirement Wealth New Zealand Superannuation

Find related papers by JEL classification:
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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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. Browning, Martin, 2000. " The Saving Behaviour of a Two-Person Household," Scandinavian Journal of Economics, Blackwell Publishing, vol. 102(2), pages 235-51, June. [Downloadable!] (restricted)
    Other versions:
  2. Doss, Cheryl R., 1996. "Testing among models of intrahousehold resource allocation," World Development, Elsevier, vol. 24(10), pages 1597-1609, October. [Downloadable!] (restricted)
  3. 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!]
    Other versions:
  4. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January. [Downloadable!] (restricted)
  5. Quisumbing, Agnes R., 1994. "Intergenerational transfers in Philippine rice villages : Gender differences in traditional inheritance customs," Journal of Development Economics, Elsevier, vol. 43(2), pages 167-195, April. [Downloadable!] (restricted)
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