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Author: Painter, Matthew A.
Resulting in 3 citations.
| 1. |
Frech, Adrianne Painter, Matthew A. Vespa, Jonathan Edward |
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Marital Biography and Mothers' Wealth Journal of Family and Economic Issues 38,2 (June 2017): 279-292. Also: http://link.springer.com/article/10.1007/s10834-016-9508-1 Cohort(s): NLSY79 Publisher: Springer Keyword(s): Divorce; First Birth; Marital History/Transitions; Marriage; Mothers; Wealth Permission to reprint the abstract has not been received from the publisher. We used over 20 years of data to estimate differences in mothers' wealth across marital biography, following a marital first birth. Our study is the first to account for the selection of mothers into divorce or remarriage when estimating the role that marital history plays in wealth accumulation. Mothers who remained stably married to the biological father of their firstborn child reported greater wealth in their forties than mothers who divorced and did not remarry. Those who married at younger ages, women of color, and women from lower-income families were less likely to remain stably married. Net of selection, mothers who remained remarried had the same wealth as continuously married mothers. Thus the characteristics that predispose mothers to divorce, and not divorce per se, are linked to lower wealth. Once these selection effects were accounted for, we concluded that divorce was not necessarily detrimental to mothers’ economic security, a new finding that contradicts past studies. |
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Bibliography Citation
Frech, Adrianne, Matthew A. Painter and Jonathan Edward Vespa. "Marital Biography and Mothers' Wealth." Journal of Family and Economic Issues 38,2 (June 2017): 279-292.
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| 2. |
Frech, Adrianne Painter, Matthew A. Vespa, Jonathan Edward |
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Marital Biography and Women's Wealth Presented: Washington DC, Population Association of America Annual Meeting, March-April 2016 Cohort(s): NLSY79 Publisher: Population Association of America Keyword(s): Divorce; Marital History/Transitions; Remarriage; Wealth Permission to reprint the abstract has not been received from the publisher. Marriage is wealth-enhancing and divorce is wealth depleting. But unequal selection into divorce or remarriage complicates any causal associations between marital biography and wealth. We use over twenty years of data from the NLSY79 to estimate wealth by marital biography among ever-married mothers, adjusting for unequal selection into divorce or remarriage. Women who remained stably married to the biological father of their firstborn child reported greater wealth in their forties than women who divorced and did not remarry. Women who married at younger ages, women of color, and women from lower-income families were less likely to remain stably married. But net of selection, remarriage did not carry a wealth penalty: women who remarried and remained married at age forty did not report less wealth than stably married women, demonstrating that a single divorce is not necessarily wealth depleting at midlife. |
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Bibliography Citation
Frech, Adrianne, Matthew A. Painter and Jonathan Edward Vespa. "Marital Biography and Women's Wealth." Presented: Washington DC, Population Association of America Annual Meeting, March-April 2016. |
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Painter, Matthew A. Vespa, Jonathan Edward |
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The Role of Cohabitation in Asset and Debt Accumulation During Marriage Journal of Family and Economic Issues 33,4 (December 2012): 491-506. Also: http://link.springer.com/article/10.1007/s10834-012-9310-7?null Cohort(s): NLSY79 Publisher: Springer Keyword(s): Assets; Cohabitation; Debt/Borrowing; Marriage; Wealth Permission to reprint the abstract has not been received from the publisher. Research has found that married individuals who cohabited only once before marriage with their future spouse (i.e., “spousal cohabiters”) have a distinctive financial advantage: they accumulate more wealth over time than individuals who married without ever cohabiting (i.e., “directly married”). Using the National Longitudinal Survey of Youth 1979 and growth curve models, the present study attempts to identify the source of spousal cohabiters’ wealth advantage. We find that marriage is associated with gains for financial and nonfinancial wealth, increasing home equity, and decreasing debt over time. Spousal cohabiters begin marriage with more debt than the directly married. Conditional on education, income, and other key factors, spousal cohabiters pay down their debt faster and generate greater home equity over time thereby accumulating more wealth than the directly married. This pattern of financial behavior among spousal cohabiters explains some, but not all, of their financial advantage over married persons who never cohabited prior to marrying. Given the increasing prevalence of cohabitation among young adults, these results offer important insights into the long-term economic outcomes associated with premarital cohabitation. |
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Bibliography Citation
Painter, Matthew A. and Jonathan Edward Vespa. "The Role of Cohabitation in Asset and Debt Accumulation During Marriage." Journal of Family and Economic Issues 33,4 (December 2012): 491-506.
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