{"title":"The Evolution of Gender Wealth Inequality in the United States in a Changing Institutional Context","authors":"H. Szymborska","doi":"10.1080/13545701.2022.2042583","DOIUrl":null,"url":null,"abstract":"This article analyzes the patterns of household-level gender wealth inequality in light of financial sector transformation in the US since the 1980s. Securitization, the subprime lending expansion, and wider liberalization measures influenced wealth disparities by determining access to different types of wealth, asset values, and relative indebtedness. The evolution of the gender wealth gap in the context of these institutional changes is not yet clearly established in the literature. Using the US Survey of Consumer Finances between 1989 and 2019, the study examines changes in wealth inequality between unpartnered male-headed and female-headed households and its determinants. It finds substantial heterogeneity of the gender wealth gap, and within-group inequality for female-headed households, across different categories of marital status, family structure, race/ethnicity, and percentile of wealth distribution. Homeownership is estimated to have an equalizing impact, while differences in employment income, age, self-employment, and ownership of high-yielding assets are associated with increasing wealth disparities. HIGHLIGHTS The study examines the unconditional and conditional wealth gaps across unpartnered households. Gender wealth inequality increased in the subprime era and after the Great Recession. The highest inequality is observed across marital status, family structure, and race. The highest inequality is found among the least wealthy households. Wealth inequality can be lowered by reducing disparities in income and asset ownership.","PeriodicalId":47715,"journal":{"name":"Feminist Economics","volume":"28 1","pages":"32 - 63"},"PeriodicalIF":3.3000,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Feminist Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/13545701.2022.2042583","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 2
Abstract
This article analyzes the patterns of household-level gender wealth inequality in light of financial sector transformation in the US since the 1980s. Securitization, the subprime lending expansion, and wider liberalization measures influenced wealth disparities by determining access to different types of wealth, asset values, and relative indebtedness. The evolution of the gender wealth gap in the context of these institutional changes is not yet clearly established in the literature. Using the US Survey of Consumer Finances between 1989 and 2019, the study examines changes in wealth inequality between unpartnered male-headed and female-headed households and its determinants. It finds substantial heterogeneity of the gender wealth gap, and within-group inequality for female-headed households, across different categories of marital status, family structure, race/ethnicity, and percentile of wealth distribution. Homeownership is estimated to have an equalizing impact, while differences in employment income, age, self-employment, and ownership of high-yielding assets are associated with increasing wealth disparities. HIGHLIGHTS The study examines the unconditional and conditional wealth gaps across unpartnered households. Gender wealth inequality increased in the subprime era and after the Great Recession. The highest inequality is observed across marital status, family structure, and race. The highest inequality is found among the least wealthy households. Wealth inequality can be lowered by reducing disparities in income and asset ownership.
期刊介绍:
Feminist Economics is a peer-reviewed journal that provides an open forum for dialogue and debate about feminist economic perspectives. By opening new areas of economic inquiry, welcoming diverse voices, and encouraging critical exchanges, the journal enlarges and enriches economic discourse. The goal of Feminist Economics is not just to develop more illuminating theories but to improve the conditions of living for all children, women, and men. Feminist Economics: -Advances feminist inquiry into economic issues affecting the lives of children, women, and men -Examines the relationship between gender and power in the economy and the construction and legitimization of economic knowledge -Extends feminist theoretical, historical, and methodological contributions to economics and the economy -Offers feminist insights into the underlying constructs of the economics discipline and into the historical, political, and cultural context of economic knowledge -Provides a feminist rethinking of theory and policy in diverse fields, including those not directly related to gender -Stimulates discussions among diverse scholars worldwide and from a broad spectrum of intellectual traditions, welcoming cross-disciplinary and cross-country perspectives, especially from countries in the South