The Evolution of Gender Wealth Inequality in the United States in a Changing Institutional Context

IF 3.3 2区 经济学 Q1 ECONOMICS Feminist Economics Pub Date : 2022-04-03 DOI:10.1080/13545701.2022.2042583
H. Szymborska
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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.
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制度变迁背景下美国性别财富不平等的演变
本文以20世纪80年代以来美国金融业转型为背景,分析了家庭层面的性别财富不平等模式。证券化、次级贷款扩张和更广泛的自由化措施通过决定获得不同类型财富、资产价值和相对负债的途径,影响了财富差距。在这些制度变化的背景下,性别财富差距的演变尚未在文献中明确确立。该研究利用1989年至2019年的美国消费者财务调查,研究了无伴侣男户主和女户主家庭之间财富不平等的变化及其决定因素。研究发现,在婚姻状况、家庭结构、种族/民族和财富分配百分位数的不同类别中,性别财富差距和女性户主家庭的群体内不平等存在很大的异质性。据估计,住房所有权具有均衡性影响,而就业收入、年龄、自营职业和高收益资产所有权的差异与日益扩大的财富差距有关。该研究考察了无伴侣家庭的无条件和有条件财富差距。在次贷时代和大衰退之后,性别财富不平等加剧。婚姻状况、家庭结构和种族之间的不平等程度最高。贫富差距最大的是最不富裕的家庭。财富不平等可以通过减少收入和资产所有权的差距来降低。
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来源期刊
Feminist Economics
Feminist Economics Multiple-
CiteScore
7.50
自引率
4.30%
发文量
37
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
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