My Wealth, (Y)Our Life Satisfaction? Sole and Joint Wealth Ownership and Life Satisfaction in Marriage.

This study examines the money-subjective well-being nexus by studying the link between changes in jointly and solely (i.e. respondents' own and their partner's own) held gross wealth and changes in married individuals' subjective well-being. Joint assets reflect norms of sharing responsibilities and resources. Solely held assets, in contrast, offer individual economic independence. Using wealth data from the German Socio-Economic Panel Study (SOEP; 2002, 2007, 2012, 2017), we estimate individual fixed effects regressions. Although coefficients for all three wealth measures are positive, our results highlight that only increases in jointly held wealth are associated with statistically significant increases in spouses' life satisfaction in Germany. Despite expectations about a stronger relevance of joint wealth for men compared to women in line with men's role as a financial provider for the family, we do not find substantial gender differences in the positive association between increases in joint wealth and life satisfaction. In light of the individualisation of marriages, our results highlight that the personal benefits associated with marital sharing of wealth seem to trump those of economic independence and financial autonomy. Supplementary Information: The online version contains supplementary material available at 10.1007/s10680-022-09630-7.

Wealth in Couples: Introduction to the Special Issue.

The assumption that economic resources are equally shared within households has been found to be untenable for income but is still often upheld for wealth. In this introduction to the special issue "Wealth in Couples", we argue that within-household inequality in wealth is a pertinent and under-researched area that is ripe for development. To this end, we outline the relevance of wealth for demographic research, making the distinction between individual and household wealth. Drawing on a life-course perspective, we discuss individual wealth accumulation within couples and its links to family-demographic processes, the institutional context, and norms on pooling and sharing. We conclude with a brief summary of the main findings from the special issue and highlight implications for demographic research and for future research in this field.

Who Opts Out? The Customisation of Marriage in the German Matrimonial Property Regime.

This study examines the prevalence of marital contracts across marriage cohorts (1990-2019) in Germany. We further investigate the characteristics of spouses who signed a marital contract. Using cross-sectional data from the German Family Panel (pairfam, 2018/19), we employ complementary log-log and multinomial logistic regression models to predict the prevalence and the type of marital contracts. The results show that 5% of all married couples opt out of the default matrimonial property regime by signing a contract in Germany. Differentiating between contract types, most couples either specify a separation of property (40%) or modify the default community of accrued gains (31%). We find an increase in the prevalence of marital contracts across marriage cohorts. The decision to opt out of the default is strongly positively associated with self-employment that often requires the customisation of asset ownership structures within marriage. Married individuals with prior divorce experiences are more likely to opt for the separation of property, indicating that the awareness of the economic consequences of divorce promotes the individualisation of marriage. Our results are in line with the cross-national trend towards customised marriages, although the trend in Germany is less pronounced than in other countries. Supplementary Information: The online version contains supplementary material available at 10.1007/s10680-022-09613-8.

Gendered employment trajectories and individual wealth at older ages in Eastern and Western Germany.

This study examines the association between employment trajectories and retired men's and women's individual wealth at older ages in the two distinct welfare state contexts of Eastern and Western Germany. Because of the increasing re-marketization of retirement provisions, wealth is becoming increasingly important for retirees' economic well-being. Using data from the German Socio-Economic Panel Study (2002, 2007, 2012 and 2017), we conduct sequence and cluster analyses to identify groups of typical employment trajectories of men and women in Eastern and Western Germany. For men, we find that continuous full-time employment is positively associated with net wealth at older ages, whereas early retirement and long-term unemployment are negatively associated with wealth. These associations are similar for housing and non-housing wealth in both contexts. For women in Western Germany, a low labour market participation is associated with higher levels of housing wealth and lower levels of non-housing wealth compared with female full-time employees. The results point to gendered wealth accumulation due to differences in men's and women's labour market participation in gender-unequal welfare state contexts. The associations between employment and wealth are slightly weaker in Eastern Germany, indicating that the socialist regime of the GDR restricted the ability to accumulate wealth.

Interdependencies in Mothers' and Daughters' Work-Family Life Course Trajectories: Similar but Different?

Women's life courses underwent substantial changes in the family and work domains in the second half of the twentieth century. The associated fundamental changes in opportunity structures and values challenged the importance of families of origin for individual life courses, but two research strands suggest enduring within-family reproduction of women's family behavior and work outcomes. We revisit this issue by studying two complementary types of intergenerational associations in women's combined work-family trajectories. On the one hand, we examine similarities across mothers' and daughters' work-family trajectories to address the direct within-family reproduction of female life courses (intergenerational persistence). On the other hand, we examine systematic associations between work-family trajectories that are typical in each generation to address intergenerational interdependencies beyond direct reproduction that account for individual and societal constrains and opportunities that each generation faced (intergenerational correspondence). We use a within-dyad approach to sequence analysis and examine combined work-family trajectories between ages 18 and 35 of two generations of women, born in 1930-1949 and in 1958-1981, within the same family drawn from the German Socio-Economic Panel. Overall, we find evidence of small but nontrivial persistence in work-family trajectories across generations that is partly attributed to within-family mechanisms of reproduction. In addition, we find correspondence across typical trajectory patterns of each generation, without daughters necessarily resembling their mothers' trajectories. The strength of the intergenerational associations varies by social background. Our research improves and broadens our understanding of the reproduction of female life courses across generations.

Fewer Siblings, More Wealth? Sibship Size and Wealth Attainment.

This study examines the association between sibship size and wealth in adulthood. The study draws on resource dilution theory and additionally discusses potentially wealth-enhancing consequences of having siblings. Data from the German Socio-Economic Panel Study (SOEP, N = 3502 individuals) are used to estimate multilevel regression models adjusted for concurrent parental wealth and other important confounders neglected in extant work. The main results of the current study show that additional siblings reduce wealth by about 38%. Parental wealth moderates the association so that sibship size is more negatively associated with filial wealth when parents are wealthier. Birth order position does not moderate the association between sibship size and wealth. The findings suggest that fertility in the family of origin has a systematic impact on wealth attainment and may contribute to population-level wealth inequalities independently from other socio-economic characteristics in families of origin such as parental wealth.

Birth cohort, ageing and gender ideology: Lessons from British panel data.

Individuals' gender attitudes influence their behaviors, and adherence to traditional gender ideology is an important mechanism contributing to the (re)production of gender inequalities. In developed nations, the 'gender revolution' was accompanied by marked societal shifts towards gender-egalitarian attitudes, but these trends have recently stalled. In this paper, we re-examine the role of birth cohort and ageing in influencing gender ideology through the lens of life-course theory and leveraging British panel data. We contribute to the field by considering cohort-differences in ageing effects on gender ideology and documenting within-cohort variability in such effects. We find that (i) people from older cohorts hold comparatively more traditional gender attitudes, (ii) the effect of ageing on gender ideology is positive, (iii) there are cohort-differences in these ageing effects, (iv) gender-attitude trajectories are less predictable in younger than older cohorts, and (v) factors capturing life-course experience explain little of the cohort differences. Our findings highlight important avenues for future research on gender ideology change, and offer insights into the likely pace and direction of social movements towards gender egalitarianism.

Long-term Health Consequences of Adverse Labor Market Conditions at Time of Leaving Education: Evidence from West German Panel Data.

Using longitudinal survey data from the Socio-Economic Panel Study ( N = 3,003 respondents with 22,165 individual-year observations) and exploiting temporal and regional variation in state-level unemployment rates in West Germany, we explore differences in trajectories of individuals' self-rated health over a period of up to 23 years after leaving education under different regional labor market conditions. We find evidence for immediate positive effects of contextual unemployment when leaving education on individuals' health. We find no evidence for generally accelerated or decelerated health deterioration when leaving education in high-unemployment contexts. We find, however, that individual unemployment experience when leaving education is associated with worse health and with more accelerated health deterioration in high-unemployment contexts. The cumulative experience of unemployment after leaving education does not mediate the influence of early labor market experiences for long-term health outcomes. In addition, our analyses indicate no gender differences in these results.

The Marriage Wealth Premium Revisited: Gender Disparities and Within-Individual Changes in Personal Wealth in Germany.

This study examines the association between marriage and economic wealth of women and men. Going beyond previous research that focused on household wealth, I examine personal wealth, which allows identifying gender disparities in the association between marriage and wealth. Using unique data from the German Socio-Economic Panel Study (2002, 2007, and 2012), I apply random-effects and fixed-effects regression models to test my expectations. I find that both women and men experience substantial marriage wealth premiums not only in household wealth but also in personal wealth. However, I do not find consistent evidence for gender disparities in these general marriage premiums. Additional analyses indicate, however, that women's marriage premiums are substantially lower than men's premiums in older cohorts and when only nonhousing wealth is considered. Overall, this study provides new evidence that women and men gain unequally in their wealth attainment through marriage.

Intergenerational transmission of homeownership in Europe: revisiting the socialisation hypothesis.

Socialisation towards homeownership during childhood has been proposed as one transmission channel of homeownership across generations in previous literature, but tests of this socialisation hypothesis are scarce. This study presents the yet most rigorous test of the socialisation hypothesis using retrospective life-history data (SHARELIFE, N=19,567 individuals) from 13 European countries. Event history and panel regression models are applied. Results show that socialisation in homeownership positively affects the hazard rates of entering homeownership for the first time and the probability to be a homeowner throughout individuals' lives net of other parental background variables and material transfers. We find a socialisation effect across divergent (but not all) examined countries. Further sensitivity analyses using a placebo test and a hypothetical confounder support the conclusion that being socialised in homeownership during childhood increases the chances of becoming and being a homeowner in later life.