De-Accumulation, Bequeath: How to Explain Gendered Wealth Trajectories after a Spouse’s Death in the Netherlands?

Carole Bonnet, Ined
Cimelli Léa , INED

Research on the economic consequences of widowhood has largely focused on income, showing that women’s living standards tend to remain stable, while men may experience (slight) gains, with public policies and economies of scale mitigating the financial impact. In contrast, wealth—an essential component of economic situation in later life—has been less studied, despite its role as a safety net affecting old-age poverty and intergenerational inequality. Evidence on gender-specific wealth dynamics remains mixed. This study investigates two questions: which asset types are most sensitive to widowhood, and what mechanisms explain potential gender disparities. Potential channels include inheritance laws, marital property regimes, consumption smoothing, intergenerational transfers, financial literacy, and insurance or employer-based provisions. We use Dutch administrative data (registers) on individuals born between 1910 and 1959 who lost a spouse after age 50 between 2007 and 2020. Wealth is measured both gross and net (liabilities deducted) and decomposed into housing, financial, business, and substantial interest assets. Preliminary descriptive results show any significant change in wealth accumulation following widowhood among men. In contrast, widows experience a marked alteration in their wealth trajectory after the death of a spouse. Housing assets, the largest component of wealth, increase slightly for men but decline for women after widowhood. This may be linked to differential residential mobility after widowhood. Liabilities decrease immediately following a spouse’s death, more sharply for women. Future analysis using event-study methods will further explore these mechanisms, especially the role of transfers to children, providing a detailed understanding of gendered wealth trajectories following widowhood

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 Presented in Session 84. Union Trajectories, Separation and Divorce