Asset holding and net worth among households with children: Differences by household type

Grinstein‐Weiss, Michal; Yeo, Yeong Hun; Zhan, Min; Charles, Pajarita

doi:10.1016/j.childyouth.2007.06.005

Cited by 33 publications

(45 citation statements)

References 25 publications

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“…Others find that single male-headed households and cohabitating households differ little from traditional married households in wealth accumulation (Ozawa and Lee 2006; Yamokoski and Keister 2006). Grinstein-Weiss et al (2008), however, found that male-headed and female-headed households with at least one child accumulate 9 % and 15 % less wealth, respectively, than do married-parent households. A number of researchers have found that single women with children have the lowest overall asset levels (Grinstein-Weiss et al 2008; Ozawa and Lee 2006; Warren et al 2001; Yamokoski and Keister 2006).…”

Section: Introductionmentioning

confidence: 91%

“…Grinstein-Weiss et al (2008), however, found that male-headed and female-headed households with at least one child accumulate 9 % and 15 % less wealth, respectively, than do married-parent households. A number of researchers have found that single women with children have the lowest overall asset levels (Grinstein-Weiss et al 2008; Ozawa and Lee 2006; Warren et al 2001; Yamokoski and Keister 2006). Finally, marital disruption penalizes wealth accumulation (Warren et at.…”

Section: Introductionmentioning

confidence: 91%

“…Women also tend to marry an older spouse and have their first child at a younger age, compared with men from the same cohort (Marini 1978; Rodgers and Thornton 1985). Marrying an older man may lead to increased wealth because the spouse will already be working and potentially saving (Grinstein-Weiss et al 2008). Alternatively, older spouses may have less education than the graduates, which would have a negative effect on the female graduate’s wealth accumulation given that men are the bread winners for this generation.…”

Section: Introductionmentioning

confidence: 99%

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Explaining the Gender Wealth Gap

2012

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To assess and explain the United States’ gender wealth gap, we use the Wisconsin Longitudinal Study to examine wealth accumulated by a single cohort over 50 years by gender, by marital status, and limited to the respondents who are their family’s best financial reporters. We find large gender wealth gaps between currently married men and women, and never-married men and women. The never-married accumulate less wealth than the currently married, and there is a marital disruption cost to wealth accumulation. The status-attainment model shows the most power in explaining gender wealth gaps between these groups explaining about one-third to one-half of the gap, followed by the human-capital explanation. In other words, a lifetime of lower earnings for women translates into greatly reduced wealth accumulation. A gender wealth gap remains between married men and women after controlling for the full model that we speculate may be related to gender differences in investment strategies and selection effects.

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Section: Introductionmentioning

confidence: 91%

Section: Introductionmentioning

confidence: 91%

Section: Introductionmentioning

confidence: 99%

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Explaining the Gender Wealth Gap

2012

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“…Relationship history also matters (Hao 1996;Waite and Gallagher 2000). Married individuals save more, have higher likelihoods of attaining affluence, and accumulate more wealth than cohabiting, divorced, and other nonmarried persons (Grinstein-Weiss et al 2008;Hirschl et al 2003;Holden and Kuo 1996;Wilmoth and Koso 2002).…”

mentioning

confidence: 98%

Cohabitation History, Marriage, and Wealth Accumulation

Vespa

Painter

2011

Demography

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This study extends research on the relationship between wealth accumulation and union experiences, such as marriage and cohabitation. Using data from the National Longitudinal Survey of Youth 1979, we explore the wealth trajectories of married individuals in light of their premarital cohabitation histories. Over time, marriage positively correlates with wealth accumulation. Most married persons with a premarital cohabitation history have wealth trajectories that are indistinguishable from those without cohabitation experience, with one exception: individuals who marry their one and only cohabiting partner experience a wealth premium that is twice as large as that for married individuals who never cohabited prior to marrying. Results remain robust over time despite cohabiters' selection out of marriage, yet vary by race/ethnicity. We conclude that relationship history may shape long-term wealth accumulation, and contrary to existing literature, individuals who marry their only cohabiting partners experience a beneficial marital outcome. It is therefore important to understand the diversity of cohabitation experiences among the married.

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“…This is particularly evident in families headed by single women. Grinstein-Weiss et al (2008) show that single women with children have the lowest overall asset levels, while Ozawa and Lee (2008) find that these types of households accumulate less wealth overall.…”

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confidence: 99%

Racial Differentials in the Wealth Effects of the Financial Crisis and Great Recession

2018

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The financial crisis of [2007][2008][2009] was arguably the most severe financial crisis in American history and the subsequent Great Recession was the worst economic downturn in the USA since the Great Depression. In this paper, we analyze data from the Panel Survey of Income Dynamics (PSID) to examine the effects of the crisis and recession on the wealth of White and Black families using graphical, cross section, and panel empirical models. While other studies have measured the short-term effects of the crisis and recession on American household wealth, we are able to look at longer-term wealth effects by incorporating data from the recently released 2015 wave of the PSID. Our results indicate that the negative consequences of the economic downturn on Black families' wealth were severe and longer-lasting than for White families.JEL Classifications D31 . I31 . J15

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Asset holding and net worth among households with children: Differences by household type

Cited by 33 publications

References 25 publications

Explaining the Gender Wealth Gap

Explaining the Gender Wealth Gap

Cohabitation History, Marriage, and Wealth Accumulation

Racial Differentials in the Wealth Effects of the Financial Crisis and Great Recession

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