Marriage and economic well being at older ages

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• 作者：Julie M. Zissimopoulos (1)
  Benjamin R. Karney (2)
  Amy J. Rauer (3)
  
  1. University of Southern California ; 3335 S Figueroa St. Unit A ; Los Angeles ; CA ; 90089 ; USA
  2. University of California Los Angeles ; 1285 Franz Hall Box 951563 ; Los Angeles ; CA ; 90095 ; USA
  3. Auburn University ; 206E Spidle Hall ; Auburn ; AL ; 36849 ; USA
  
• 关键词：Wealth ; Aging ; Marriage ; Pensions ; J12 ; J14 ; D12 ; D31
• 刊名：Review of Economics of the Household
• 出版年：2015
• 出版时间：March 2015
• 年：2015
• 卷：13
• 期：1
• 页码：1-35
• 全文大小：277 KB
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• 刊物类别：Business and Economics
• 刊物主题：Economics
  Microeconomics
  Labor Economics
  Population Economics
  Social Sciences
  
• 出版者：Springer Netherlands
• ISSN：1573-7152

文摘

This paper provides new evidence on the wealth advantage of marriage. We analyze the relationship between a lifetime of marital status changes and wealth levels near retirement age. We consider type of change whether from divorce, widowing, remarriage, number and timing of changes, and duration in marriage. We document that lifetime marriage experiences of individuals nearing retirement are very diverse: only about one-half of all individuals experience one continuous marriage throughout their lives. We model the impact of marriage on wealth independent of lifetime earnings, mortality risk, risk aversion and other important confounding factors. Consideration of financial, housing, and public and private pension wealth reveal that unadjusted wealth differences between married, remarried and not married individuals are large; as duration of marriage increases, so does wealth; and lifetime earnings as well as future claims on public and private pensions explain most of the wealth differences by marital status for men but less so for women.