Intrahousehold allocation of financial resources: evidence from South Korean individual bank accounts |
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| Authors: | Jungmin Lee Mark L Pocock |
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| Institution: | (1) Department of Economics, Sam M. Walton College of Business, University of Arkansas at Fayetteville, Fayetteville, AR, USA;(2) Institute for the Study of Labor (IZA), Bonn, Germany;(3) Risk Analysis Division, Office of the Comptroller of the Currency, Washington, DC, USA |
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| Abstract: | Using individual bank account data from South Korea, where joint accounts are rare and the legal system emphasizes the individuality
of financial transactions, we examine the distribution of financial resources between spouses within households. We find that
each member’s share of household savings depends on the balance of bargaining power. We also find that the wife’s bargaining
power increases total household savings. The findings deviate from the unitary model.
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| Keywords: | Savings Household bargaining |
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