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My Wealth, (Y)Our Life Satisfaction? Sole and Joint Wealth Ownership and Life Satisfaction in Marriage

Author

Listed:
  • Nicole Kapelle

    (University of Oxford)

  • Theresa Nutz

    (GESIS-Leibniz Institute for the Social Sciences
    Humboldt-Universität Zu Berlin)

  • Daria Tisch

    (Max Planck Institute for the Study of Societies)

  • Manuel Schechtl

    (Humboldt-Universität Zu Berlin)

  • Philipp M. Lersch

    (Humboldt-Universität Zu Berlin
    DIW Berlin)

  • Emanuela Struffolino

    (Humboldt-Universität Zu Berlin
    University of Milan)

Abstract

This study examines the money-subjective well-being nexus by studying the link between changes in jointly and solely (i.e. respondents’ own and their partner’s own) held gross wealth and changes in married individuals’ subjective well-being. Joint assets reflect norms of sharing responsibilities and resources. Solely held assets, in contrast, offer individual economic independence. Using wealth data from the German Socio-Economic Panel Study (SOEP; 2002, 2007, 2012, 2017), we estimate individual fixed effects regressions. Although coefficients for all three wealth measures are positive, our results highlight that only increases in jointly held wealth are associated with statistically significant increases in spouses’ life satisfaction in Germany. Despite expectations about a stronger relevance of joint wealth for men compared to women in line with men’s role as a financial provider for the family, we do not find substantial gender differences in the positive association between increases in joint wealth and life satisfaction. In light of the individualisation of marriages, our results highlight that the personal benefits associated with marital sharing of wealth seem to trump those of economic independence and financial autonomy.

Suggested Citation

  • Nicole Kapelle & Theresa Nutz & Daria Tisch & Manuel Schechtl & Philipp M. Lersch & Emanuela Struffolino, 2022. "My Wealth, (Y)Our Life Satisfaction? Sole and Joint Wealth Ownership and Life Satisfaction in Marriage," European Journal of Population, Springer;European Association for Population Studies, vol. 38(4), pages 811-834, October.
    • Handle: RePEc:spr:eurpop:v:38:y:2022:i:4:d:10.1007_s10680-022-09630-7
    DOI: 10.1007/s10680-022-09630-7
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    Cited by:

    1. Philipp M. Lersch & Emanuela Struffolino & Agnese Vitali, 2022. "Wealth in Couples: Introduction to the Special Issue," European Journal of Population, Springer;European Association for Population Studies, vol. 38(4), pages 623-641, October.
    2. Graeber, Daniel & Hilbert, Viola & König, Johannes, 2023. "Inequality of Opportunity in Wealth: Levels, Trends, and Drivers," IZA Discussion Papers 16488, Institute of Labor Economics (IZA).
    3. Rüttenauer, Tobias & Kapelle, Nicole, 2024. "Panel Data Analysis," SocArXiv 3mfzq, Center for Open Science.
    4. Agnese Vitali & Romina Fraboni, 2022. "Pooling of Wealth in Marriage: The Role of Premarital Cohabitation," European Journal of Population, Springer;European Association for Population Studies, vol. 38(4), pages 721-754, October.

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