IDEAS home Printed from https://ideas.repec.org/a/eee/soceco/v37y2008i2p592-611.html
   My bibliography  Save this article

Control over money and the savings decisions of Canadian households

Author

Listed:
  • Phipps, Shelley
  • Woolley, Frances

Abstract

In most countries, men have more life insurance than women, and are more likely to be members of employer pension plans. However, little is known about savings behaviour within households, for example, the name under which assets are held. Private savings could counterbalance or exacerbate inequality in other forms of pension access. This is important both in itself and as a determinant of future bargaining power of spouses. In this paper, we use a unique dataset to study the effect of women's and men's control over finances on the probability of each spouse contributing to tax-sheltered Registered Retirement Savings Plans (RRSP).

Suggested Citation

  • Phipps, Shelley & Woolley, Frances, 2008. "Control over money and the savings decisions of Canadian households," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(2), pages 592-611, April.
  • Handle: RePEc:eee:soceco:v:37:y:2008:i:2:p:592-611
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/B6W5H-4N2DRJX-2/1/f156260157312b379765dc8ac113f567
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Frances Woolley, 2004. "Why Pay Child Benefits to Mothers?," Canadian Public Policy, University of Toronto Press, vol. 30(1), pages 47-69, March.
    2. Lundberg, Shelly & Pollak, Robert A, 1993. "Separate Spheres Bargaining and the Marriage Market," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 988-1010, December.
    3. René Morissette & Marie Drolet, 2001. "Pension coverage and retirement savings of young and prime-aged workers in Canada, 1986-1997," Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 100-119, February.
    4. Mukesh Eswaran & Ashok Kotwal, 2004. "A theory of gender differences in parental altruism," Canadian Journal of Economics, Canadian Economics Association, vol. 37(4), pages 918-950, November.
    5. Chen, Zhiqi & Woolley, Frances, 2001. "A Cournot-Nash Model of Family Decision Making," Economic Journal, Royal Economic Society, vol. 111(474), pages 722-748, October.
    6. Phipps, Shelley A & Burton, Peter S, 1998. "What's Mine Is Yours? The Influence of Male and Female Incomes on Patterns of Household Expenditure," Economica, London School of Economics and Political Science, vol. 65(260), pages 599-613, November.
    7. Sunden, Annika E & Surette, Brian J, 1998. "Gender Differences in the Allocation of Assets in Retirement Savings Plans," American Economic Review, American Economic Association, vol. 88(2), pages 207-211, May.
    8. Shelly J. Lundberg & Robert A. Pollak & Terence J. Wales, 1997. "Do Husbands and Wives Pool Their Resources? Evidence from the United Kingdom Child Benefit," Journal of Human Resources, University of Wisconsin Press, vol. 32(3), pages 463-480.
    9. William E. Even & David A. Macpherson, 1994. "Gender Differences in Pensions," Journal of Human Resources, University of Wisconsin Press, vol. 29(2), pages 555-587.
    10. Bina Agarwal, 1997. "''Bargaining'' and Gender Relations: Within and Beyond the Household," Feminist Economics, Taylor & Francis Journals, vol. 3(1), pages 1-51.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kumar, Sumit & Patel, Ratna & Chauhan, Shekhar, 2020. "Does land possession among working women empower them and improve their child health: A study based on National Family Health Survey-4," Children and Youth Services Review, Elsevier, vol. 119(C).
    2. Shoshana Amyra Grossbard & Alfredo Marvão Pereira, 2013. "Savings and Economies of Marriage: Intra-Marriage Financial Distributions as Determinants of Savings," Working Papers 95, Department of Economics, College of William and Mary.
    3. Shoshana Amyra Grossbard & Alfredo Marvao Pereira & Shoshana Grossbard, 2010. "Will Women Save more than Men? A Theoretical Model of Savings and Marriage," CESifo Working Paper Series 3146, CESifo.
    4. Susanne Elsas, 2013. "Pooling and Sharing Income within Households: A Satisfaction Approach," SOEPpapers on Multidisciplinary Panel Data Research 587, DIW Berlin, The German Socio-Economic Panel (SOEP).
    5. Jens Bonke & Martin Browning, 2009. "Pooling of Income and Sharing of Consumption within Households," CAM Working Papers 2009-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
    6. repec:zbw:rwirep:0258 is not listed on IDEAS
    7. Matthias Keese, 2011. "Thrifty Wives and Lavish Husbands? – Bargaining Power and Financial Dicisions in Germany," Ruhr Economic Papers 0258, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    8. Jaanika Meriküll & Merike Kukk & Tairi Rõõm, 2020. "What Explains the Gender Gap in Wealth? Evidence from Administrative Data," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, National Bureau of Economic Research, Inc.
    9. Keese, Matthias, 2011. "Thrifty Wives and Lavish Husbands? – Bargaining Power and Financial Dicisions in Germany," Ruhr Economic Papers 258, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    10. Katherine Grace Carman & Angela A. Hung, 2017. "Household Retirement Saving The Location of Savings Between Spouses," Working Papers WR-1166, RAND Corporation.
    11. Aylit Romm, 2015. "The Effect of Retirement Date Expectations on Pre-retirement Wealth Accumulation: The Role of Gender and Bargaining Power in Married US Households," Journal of Family and Economic Issues, Springer, vol. 36(4), pages 593-605, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pareena G. Lawrence & Marakah Mancini, 2008. "La toma de decisiones de los hogares en Venezuela," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 10(18), pages 213-239, January-J.
    2. Matthias Doepke & Michèle Tertilt, 2019. "Does female empowerment promote economic development?," Journal of Economic Growth, Springer, vol. 24(4), pages 309-343, December.
    3. Laurens CHERCHYE & Thomas DEMUYNCK & Bram DE ROCK, 2010. "Noncooperative household consumption with caring," Working Papers of Department of Economics, Leuven ces10.34, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    4. Matthias Doepke & Michèle Tertilt, 2019. "Does female empowerment promote economic development?," Journal of Economic Growth, Springer, vol. 24(4), pages 309-343, December.
    5. Miriam Beblo & Denis Beninger, 2017. "Do husbands and wives pool their incomes? A couple experiment," Review of Economics of the Household, Springer, vol. 15(3), pages 779-805, September.
    6. Sara Cantillon & Bertrand Maître & Dorothy Watson, 2016. "Family Financial Management and Individual Deprivation," Journal of Family and Economic Issues, Springer, vol. 37(3), pages 461-473, September.
    7. Shelly Lundberg & Aloysius Siow, 2017. "Canadian contributions to family economics," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(5), pages 1304-1323, December.
    8. Tansel Yilmazer & Stephen Lich, 2015. "Portfolio choice and risk attitudes: a household bargaining approach," Review of Economics of the Household, Springer, vol. 13(2), pages 219-241, June.
    9. David E. Sahn & Stephen D. Younger, 2009. "Measuring intra‐household health inequality: explorations using the body mass index," Health Economics, John Wiley & Sons, Ltd., vol. 18(S1), pages 13-36, April.
    10. Malapit, Hazel Jean L., 2012. "Why do spouses hide income?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 584-593.
    11. Gutierrez, Federico H., 2018. "A Sharing Model of the Household: Explaining the Deaton-Paxson Paradox and Computing Household Indifference Scales," GLO Discussion Paper Series 166, Global Labor Organization (GLO).
    12. Levin, Mark (Левин, Марк) & Matrosova, Ksenia (Матросова, Ксения), 2018. "Development and Research of Economic Behavior of Households in Changing Conditions [Разработка И Исследование Экономического Поведения Домохозяйств В Изменяющихся Условиях]," Working Papers 041825, Russian Presidential Academy of National Economy and Public Administration.
    13. Olivier Bargain & Olivier Donni, 2014. "Optimal Commodity Taxation and Redistribution within Households," Economica, London School of Economics and Political Science, vol. 81(321), pages 48-62, January.
    14. Katharina Mader & Alyssa Schneebaum, 2013. "Zur geschlechtsspezifischen Intrahaushaltsverteilung von Entscheidungsmacht in Europa," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 39(3), pages 361-403.
    15. Xu, Zeyu, 2007. "A survey on intra-household models and evidence," MPRA Paper 3763, University Library of Munich, Germany.
    16. Boone, J. & van der Wiel, K.M. & Vermeulen, F.M.P., 2009. "Kinky Choices, Dictators and Split Might : A Non-Cooperative Model for Household Consumption and Labor Supply," Other publications TiSEM c676a180-63ce-48c1-bd51-e, Tilburg University, School of Economics and Management.
    17. Jaanika Meriküll & Merike Kukk & Tairi Rõõm, 2020. "What Explains the Gender Gap in Wealth? Evidence from Administrative Data," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, National Bureau of Economic Research, Inc.
    18. George Davis, 2014. "Food at home production and consumption: implications for nutrition quality and policy," Review of Economics of the Household, Springer, vol. 12(3), pages 565-588, September.
    19. Buettner, Thiess & Erbe, Katharina & Grimm, Veronika, 2019. "Tax planning of married couples and intra-household income inequality," Journal of Public Economics, Elsevier, vol. 179(C).
    20. Laurens Cherchye & Thomas Demuynck & Bram De Rock, 2011. "Revealed Preference Analysis of Non‐Cooperative Household Consumption," Economic Journal, Royal Economic Society, vol. 121(555), pages 1073-1096, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:37:y:2008:i:2:p:592-611. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Haili He). General contact details of provider: http://www.elsevier.com/locate/inca/620175 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.