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Control over money and the savings decisions of Canadian households

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  • 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).

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  • 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
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    7. Shelley A. Phipps & Peter S. Burton, 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.
    8. 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.
    9. 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.
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    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, 2021. "What explains the gender gap in wealth? Evidence from administrative data," Review of Economics of the Household, Springer, vol. 19(2), pages 501-547, June.
    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. Merike Kukk & W. Fred Raaij, 2022. "Joint and Individual Savings within Families: Evidence from Bank Accounts," Journal of Family and Economic Issues, Springer, vol. 43(3), pages 511-533, September.
    12. 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.
    13. Fernandes, Inês & Schmidt, Tobias, 2021. "Household bargaining, pension contributions and retirement expectations: Evidence from the German Panel on Household Finances," Discussion Papers 44/2021, Deutsche Bundesbank.

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