Petra Persson, WAPPP Fellow
Poverty in old age is strongly correlated with marital status. In many countries, governments also provide retirement insurance that is tied to marriage. Such social security schemes equate marriage with take-up of insurance against financial hardship in the end of life, especially for women, who outlive their husbands by several years on average. In my paper, I examine whether marriage is used as a long-term financial planning device, using theoretical as well as empirical methods.