Gender and Risk-Taking in the Building of U.S. Retirement Wealth

IF 0.5 Q4 ECONOMICS

ATLANTIC ECONOMIC JOURNAL Pub Date : 2024-01-15 DOI:10.1007/s11293-023-09789-2

Christos I. Giannikos, Efstathia D. Korkou

引用次数: 0

Abstract

The growing weight being placed on self-directed retirement accounts within the United States retirement income policy framework, and the time inconsistency challenge of individuals, particularly women, tending to under-invest in retirement savings accounts motivated the current work. Using data from the United States Federal Reserve Board’s Survey of Consumer Finances, for a period spanning from 1989 to 2019, 11 cross-sections of data, the paper investigated the role of gender in United States retirement risk-taking investment strategies of single (never married) individuals. The analysis documented increasing trends in the risk-taking of both single women and single men but recorded differences in the risk-taking profiles of the two groups, with single men taking more risk than single women in their retirement wealth building in most cross-sections, with the gender risk-taking gap dropping, nonetheless, algebraically in magnitude from 1989 to 2019.

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美国退休财富积累中的性别与风险承担

美国退休收入政策框架对自主退休账户的重视程度日益增加，而个人（尤其是女性）倾向于对退休储蓄账户投资不足，这一时间不一致性难题促使了当前的研究工作。本文利用美国联邦储备委员会的《消费者财务状况调查》（Survey of Consumer Finances）中 1989 年至 2019 年期间的 11 个横截面数据，研究了性别在美国单身（从未结婚）人士退休风险投资策略中的作用。分析结果表明，单身女性和单身男性的风险承担都呈上升趋势，但两个群体的风险承担情况存在差异，在大多数横截面中，单身男性在退休财富积累方面比单身女性承担更多风险，不过，从 1989 年到 2019 年，性别风险承担差距的幅度在代数上有所下降。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

ATLANTIC ECONOMIC JOURNAL ECONOMICS-

CiteScore

1.30

自引率

16.70%

发文量

期刊介绍： The Atlantic Economic Journal (AEJ) has an international reputation for excellent articles in all interest areas, without regard to fields or methodological preferences. Founded in 1973 by the International Atlantic Economic Society, a need was identified for increased communication among scholars from different countries. For over 30 years, the AEJ has continuously sought articles that traced some of the most critical economic changes and developments to occur on the global level. The journal''s goal is to facilitate and synthesize economic research across nations to encourage cross-fertilization of ideas and scholarly research. Contributors include some of the world''s most respected economists and financial specialists, including Nobel laureates and leading government officials. AEJ welcomes both theoretical and empirical articles, as well as public policy papers. All manuscripts are submitted to a double-blind peer review process. In addition to formal publication of full-length articles, the AEJ provides an opportunity for less formal communication through its Anthology section. A small point may not be worthy of a full-length, formal paper but is important enough to warrant dissemination to other researchers. Research in progress may be of interest to other scholars in the field. A research approach ending in negative results needs to be shared to save others similar pitfalls. The Anthology section has been established to facilitate these forms of communication. Anthologies provide a means by which short manuscripts of less than 500 words can quickly appear in the AEJ. All submissions are formally reviewed by the Board of Editors. Officially cited as: Atl Econ J