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Title: For Richer: The Effects of Marriage on Wealth Accumulation
Resulting in 1 citation.
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Killewald, Alexandra Pfeffer, Fabian T. |
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For Richer: The Effects of Marriage on Wealth Accumulation Presented: Denver CO, Population Association of America Annual Meeting, April 2018 Cohort(s): NLSY79 Publisher: Population Association of America Keyword(s): Marriage; Modeling, Marginal Structural; Wealth Permission to reprint the abstract has not been received from the publisher. We investigate the effects of marriage on individuals' midlife wealth. Establishing the importance of marriage as a wealth-generating process is challenging because marriage and wealth are dynamic processes with reciprocal effects: marriage is both the result of prior wealth and a potential determinant of future wealth. To estimate the total causal effect of years spent married on wealth, we therefore apply marginal structural models. Using the NLSY79, we show that time spent married has positive effects on individuals' wealth at midlife but that accounting for dynamic selection into and out of marriage reduces these effects substantially. Ignoring the asset-pooling effect of marriage, the effects of marriage on wealth are small. However, the effects are also heterogeneous: women and whites gain more in absolute terms from each additional year spent married than do men and African Americans. |
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Bibliography Citation
Killewald, Alexandra and Fabian T. Pfeffer. "For Richer: The Effects of Marriage on Wealth Accumulation." Presented: Denver CO, Population Association of America Annual Meeting, April 2018. |