Husbands, Wives, and Perception of Relative Knowledge About Household Finances

27 Pages Posted: 19 Mar 2021

See all articles by Sherman D. Hanna

Sherman D. Hanna

Ohio State University (OSU)

Kyoung Tae Kim

University of Alabama

Suzanne Lindamood

Independent

Sunwoo T. Lee

York University

Date Written: February 8, 2021

Abstract

Which spouse is more knowledgeable about the household’s finances in mixed-sex married couple households? The answer to this question can be inferred from the Survey of Consumer Finances (SCF), which assigns the title of “respondent” to the person the household indicates is more knowledgeable about its finances. In the 2016 SCF, the husband was the respondent in 56% of husband-wife households, but among households in the top 1% of net worth, the husband was the respondent in 90% of the households. Despite the progress women have made in education and other aspects of society, husbands were the respondent in a higher percent of households in 2016 than in 1992, and the husband was much more likely to be the respondent in wealthy households. Logistic regression on whether the husband or wife was the respondent showed a strong effect of the spouse with more education being the respondent.

Keywords: Gender, Financial knowledge, Household production model, Family decision-making, Survey of Consumer Finances

JEL Classification: D14,J12,J16,G53

Suggested Citation

Hanna, Sherman D. and Kim, Kyoung Tae and Lindamood, Suzanne and Lee, Sunwoo, Husbands, Wives, and Perception of Relative Knowledge About Household Finances (February 8, 2021). Available at SSRN: https://ssrn.com/abstract=3781622

Sherman D. Hanna (Contact Author)

Ohio State University (OSU) ( email )

1787 Neil Avenue
Campbell 265D
Columbus, OH 43210
United States
614-292-4584 (Phone)

Kyoung Tae Kim

University of Alabama ( email )

316-C Adams Hall
Tuscaloosa, AL 35487-0001
United States

Suzanne Lindamood

Independent ( email )

Sunwoo Lee

York University ( email )

4700 Keele Street
252 Atkinson Building
Toronto, Ontario M3J 1P3
Canada

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