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The influence of gender and income on the household division of financial responsibility

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  • Marcin Hitczenko

Abstract

This paper studies how gender and income dynamics influence the division of responsibility in two-adult households for various activities, including those tasks directly related to financial decisionmaking. The data, from the 2012 Survey of Consumer Payment Choice, consist of the respondents? categorical self-assessments of their individual levels of responsibility for various tasks. A data construct, in which some households have both adults participate in the survey, is exploited to develop a penalized latent variable model that accounts for systemic response errors. The data reveal that that women, even when they are the primary earner, are much more likely than men to have the major responsibility for household shopping and bill paying. With regard to financial decisionmaking, however, there is a greater propensity to share responsibility equally, and income ranking is more important than gender in defining household roles, with higher earners more likely to have a larger share of responsibility.

Suggested Citation

  • Marcin Hitczenko, 2016. "The influence of gender and income on the household division of financial responsibility," Working Papers 16-20, Federal Reserve Bank of Boston.
  • Handle: RePEc:fip:fedbwp:16-20
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    References listed on IDEAS

    as
    1. Marianne Bertrand & Emir Kamenica & Jessica Pan, 2015. "Gender Identity and Relative Income within Households," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(2), pages 571-614.
    2. Schuh, Scott & Stavins, Joanna, 2010. "Why are (some) consumers (finally) writing fewer checks? The role of payment characteristics," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1745-1758, August.
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    Cited by:

    1. Maria Esther Irigoyen-Camacho & Maria Consuelo Velazquez-Alva & Marco Antonio Zepeda-Zepeda & Maria Fernanda Cabrer-Rosales & Irina Lazarevich & Antonio Castaño-Seiquer, 2020. "Effect of Income Level and Perception of Susceptibility and Severity of COVID-19 on Stay-at-Home Preventive Behavior in a Group of Older Adults in Mexico City," IJERPH, MDPI, vol. 17(20), pages 1-16, October.
    2. Isha Chawla & Joseph Svec, 2023. "Household savings and present bias among Chinese couples: A household bargaining approach," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 648-672, January.
    3. Madelaine L’Esperance, 2020. "Does Responsibility for Financial Tasks Influence Credit Knowledge and Behavior?: Evidence from a Panel of US Couples," Journal of Family and Economic Issues, Springer, vol. 41(2), pages 377-387, June.
    4. Ariane Agunsoye & Jerome Monne & Janette Rutterford & Dimitris P. Sotiropoulos, 2022. "How gender, marital status, and gender norms affect savings goals," Kyklos, Wiley Blackwell, vol. 75(2), pages 157-183, May.
    5. Scott Schuh, 2017. "Measuring consumer expenditures with payment diaries," Working Papers 17-2, Federal Reserve Bank of Boston.

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    More about this item

    Keywords

    gender roles; household finances; probit models; penalized maximum likelihood;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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