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Marital Histories and Economic Well-Being

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  • Julie Zissimopoulos

    ()

  • Benjamin Karney

    ()

  • Amy Rauer

    ()

Abstract

Using panel data from the Health and Retirement Study the authors analyze the impact of a lifetime of marriage events on wealth levels near retirement. They find that unmarried widowed and divorced men and remarried men with more than one past marital disruption have lower housing wealth than continuously married men and women. Both financial and housing wealth are lower for the same marital categories of women. Each year spent married increases wealth by 4 percent. Observable differences in lifetime earnings, pension and Social Security wealth are not enough to explain the large differences in wealth accumulation across marital groups.

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Bibliographic Info

Paper provided by RAND Corporation Publications Department in its series Working Papers with number 645.

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Length: 44 pages
Date of creation: Nov 2008
Date of revision:
Handle: RePEc:ran:wpaper:645

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  1. Mincer, Jacob, 1978. "Family Migration Decisions," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 749-73, October.
  2. Glenn R. Hubbard & Jonathan Skinner & Stephen P. Zeldes, . "Precautionary Saving and Social Insurance," Rodney L. White Center for Financial Research Working Papers 03-95, Wharton School Rodney L. White Center for Financial Research.
  3. Steven F. Venti & David A. Wise, 2001. "Choice, Chance, and Wealth Dispersion at Retirement," NBER Chapters, in: Aging Issues in the United States and Japan, pages 25-64 National Bureau of Economic Research, Inc.
  4. Joseph Lupton & James P. Smith, 1999. "Marriage, Assets, and Savings," Working Papers 99-12, RAND Corporation Publications Department.
  5. Lusardi, Annamaria & Mitchell, Olivia S., 2006. "Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth," CFS Working Paper Series 2006/20, Center for Financial Studies (CFS).
  6. James P. Smith, 2004. "Poverty and the Family," Labor and Demography 0403014, EconWPA.
  7. David Neumark & Sanders D. Korenman, 1988. "Does marriage really make men more productive?," Finance and Economics Discussion Series 29, Board of Governors of the Federal Reserve System (U.S.).
  8. Shelly Lundberg & Elaina Rose, 2002. "The Effects Of Sons And Daughters On Men'S Labor Supply And Wages," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 251-268, May.
  9. Martin Browning & Annamaria Lusardi, 1995. "Household Saving: Micro Theories and Micro Facts," Department of Economics Working Papers 1995-02, McMaster University.
  10. David S. Loughran & Julie Zissimopoulos, 2007. "Why Wait? The Effect of Marriage and Childbearing on the Wages of Men and Women," Working Papers 482-1, RAND Corporation Publications Department.
  11. Dynan, Karen E, 1993. "How Prudent Are Consumers?," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1104-13, December.
  12. Lillard, L.A. & Waite, L.J., 1996. "Marital Disruption and Mortality," Papers 96-01, RAND - Reprint Series.
  13. Karen E. Dynan, 1993. "How prudent are consumers?," Working Paper Series / Economic Activity Section 135, Board of Governors of the Federal Reserve System (U.S.).
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Cited by:
  1. Graziella Bertocchi & Marianna Brunetti & Costanza Torricelli, 2008. "Marriage and Other Risky Assets: A Portfolio Approach," Department of Economics 0606, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
  2. Brighita Negrusa & Sonia Oreffice, 2010. "Sexual orientation and household savings: do homosexual couples save more?," Working Papers. Serie AD 2010-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Angela Hung & Joanne Yoong & Elizabeth Brown, 2012. "Empowering Women Through Financial Awareness and Education," OECD Working Papers on Finance, Insurance and Private Pensions 14, OECD Publishing.

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