Program > Papers by author > Fremeaux Nicolas

Tuesday 13
D1 - Household behavior and family economics II
Chair: Weili Ding
› 14:50 - 15:15 (25min)
› Room 522 - S. Bernhardt
The Individualization of Wealth. Evidence from France
Marion Leturcq  1@  , Nicolas Fremeaux  2@  
1 : INED
INED
2 : Université Paris 2, Panthéon-Assas  (UP2)  -  Website
Ministère de l'Enseignement Supérieur et de la Recherche Scientifique, Université Paris II - Panthéon-Assas
12 place Panthéon - 75005 Paris -  France

Over the last decades, the gender wealth gap increased in some countries, including France. This constitutes an economic puzzle, as the accumulation of wealth is related to the marital and labor history of individuals which became very similar for males and females. Using the French wealth surveys, we showed that this puzzle is explained by the individualization of wealth. The demographic changes led to a decrease in the share of wealth held jointly by spouses and to an increase in the share of assets held by a sole individual. We defined an index of individualized wealth and we decomposed its change over time. We showed that the individualization of wealth was explained by the increase of divorce rates among older age groups and by a change in couples' financial arrangements among younger individuals. Then, we showed how the gender wealth gap was related to the individualization of wealth. Its increase was explained by the fact that divorced men were more advantaged after divorce than females among older age groups and by an increase in within couples wealth inequality for younger age-groups. We concluded that the flip side of financial independence between partners is the rise in the gender wealth gap.



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