Arna Olafsson will deliver a lecture on child penalties in personal finances on May 16th in Oddi 101 from 12 to 13.30.<\/p>\n
<\/p>\n
Child Penalties in Personal Finances:<\/strong> Using detailed and comprehensive bank data, we study the impacts that children have Co-author: David Westerheide<\/p>\n Arna is an Associate Professor of Finance at the\u00a0Department of Finance<\/a>\u00a0at Copenhagen Business School,\u00a0a Research Fellow at the\u00a0Danish Finance Institute<\/a>, a Research Affiliate at\u00a0CEPR<\/a>, a\u00a0CEPR Household Finance Network<\/a>\u00a0Member, a member of\u00a0The Center for Big Data in Finance (BIGFI)<\/a>\u00a0at Copenhagen Business School and a Research Fellow at the\u00a0Pension Research Centre (PeRCent)<\/a>\u00a0at Copenhagen Business School.<\/strong><\/p>","protected":false},"excerpt":{"rendered":" Arna Olafsson will deliver a lecture on child penalties in personal finances on May 16th in Oddi 101 from 12 to 13.30. Child Penalties in Personal Finances: Evidence from Bank Data Using detailed and comprehensive bank data, we study the impacts that children have on gender gaps in financial choices. It is well established […]<\/p>","protected":false},"author":3,"featured_media":2999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-3006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","wpbf-post"],"acf":[],"_links":{"self":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/comments?post=3006"}],"version-history":[{"count":6,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3006\/revisions"}],"predecessor-version":[{"id":3339,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3006\/revisions\/3339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media\/2999"}],"wp:attachment":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media?parent=3006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/categories?post=3006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/tags?post=3006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEvidence from Bank Data<\/strong><\/p>\n
\non gender gaps in financial choices. It is well established that women are, on average,
\nless likely to participate in risky asset markets and save less. We show that the arrival of
\nchildren contributes to the gender gaps in these financial choices: At the exact point in
\ntime when women become mothers their propensity to participate in risky asset markets
\ndrops and their propensity to save through savings accounts does as well, the amounts
\nthey hold in savings accounts is reduced as well as their average monthly savings, and they
\ndraw down their private pensions. These outcomes are unaffected as men become fathers.
\nWe therefore conclude there are \u201cchild penalties\u201d in personal finances that contribute to
\nthe gender gaps in financial choices.<\/p>\n