Journal of Family and Economic Issues
Unbanked, Underbanked, Female-headed households, Child penalty
Despite considerable work on gender and access to financial services in the developing world, there have been few studies on this issue in the United States. In this paper, 2007 and 2010 US Survey of Consumer Finance data are used to study the differential impact of children on the likelihood of being unbanked and underbanked for couples, male-headed households and female-headed households. After controlling for various aspects of socio-economic status, logistic regressions indicate that an additional child increased female-headed households’ likelihood of being unbanked and underbanked. This child penalty is stronger for female-headed households than for couples or male-headed households. This result cannot be explained solely on the basis of demand side factors, including income, and calls for further research into the supply-side dynamics of access to financial services in the US.
© Springer Science+Business Media New York 2014.
Rao, S.; and Malapit, H. L. (2015). Gender, Household Structure and Financial Participation in the United States. Journal of Family and Economic Issues 36(4): 606-620. https://doi.org/10.1007/s10834-014-9426-z