Joint and Individual Savings within Families: Evidence from Bank Accounts

Kukk, Merike; Raaij, W. Fred van

doi:10.1007/s10834-021-09783-3

Cited by 3 publications

(2 citation statements)

References 26 publications

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“…Garcia et al (2021) examine whether similar offsetting behavior comes about after inducing individuals to save more through a similar intervention, but they find little change in credit utilization. Kukk & Raaij (2021) look at savings distributions across individual and joint accounts within households, finding a wide range of joint allocations.…”

Section: Linked Financial Accountsmentioning

confidence: 99%

Household Financial Transaction Data

Baker

Kueng

2022

Annu. Rev. Econ.

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The growth of the availability and use of detailed household financial transaction micro data has dramatically expanded the ability of researchers to understand both household decision making and aggregate economic fluctuations across a wide range of fields. This class of transaction data is derived from a myriad of sources, including financial institutions, FinTech apps, and payment intermediaries. We review how these detailed data have been utilized in finance and economics research and analyze both their benefits and limitations as compared to more traditional measures of income, spending, and wealth. Finally, we discuss the future potential of this flexible class of data in firm-focused research, real-time policy analysis, and macro statistics.

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Section: Linked Financial Accountsmentioning

confidence: 99%

Household Financial Transaction Data

Baker

Kueng

2022

Annu. Rev. Econ.

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“…They find that on average men's net wealth is 33,000 euros higher from women's wealth. Kukk and van Raaij (2021) examine the distribution of financial assets within couples using bank account data from the Netherlands. They find that the financial assets are indeed unequally distributed between the partners but they do not find any systematic differences between the genders.…”

Section: Gender Differences In the Wealth Accumulation Functionmentioning

confidence: 99%

The Gender Wealth Gap in Europe: Application of Machine Learning to Predict Individual‐level Wealth

Kukk

Meriküll

Rõõm

2022

Review of Income and Wealth

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This article provides comparative estimates of the gender wealth gaps for 22 European countries, employing data from the Household Finance and Consumption Survey. The data on wealth are collected at the household level, while individual‐level data are needed for the estimates of gender wealth gaps. We propose a novel approach using machine learning and model averaging methods to predict individual‐level wealth data for multi‐person households. Our results suggest that random forest performs best as the predicting tool for this exercise, outperforming elastic net and Bayesian model averaging. The estimated gender wealth gaps tend to be in favor of men, especially at the top of the wealth distribution. Men have 24 percent more wealth than women on average. We also find that a high home ownership rate is associated with a smaller country‐level gender wealth gap. Our estimates suggest that the individual‐level wealth inequality is on average 3 pp higher than the household‐level wealth inequality in multi‐member households.

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Consumer behavioral economics and monetary wisdom—A penny saved is a penny earned: Monetary intelligence and emotional intelligence impact financial decision-making

Tang,

Tang

2024

Monetary Wisdom

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Joint and Individual Savings within Families: Evidence from Bank Accounts

Cited by 3 publications

References 26 publications

Household Financial Transaction Data

Household Financial Transaction Data

The Gender Wealth Gap in Europe: Application of Machine Learning to Predict Individual‐level Wealth

Consumer behavioral economics and monetary wisdom—A penny saved is a penny earned: Monetary intelligence and emotional intelligence impact financial decision-making

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