The Marriage Market, Labor Supply and Education Choice / Pierré-Andre Chiappori, Monica Costa Dias, Costas Meghir.

Format:

Book

Author/Creator:

Chiappori, Pierré-Andre.

Contributor:

National Bureau of Economic Research.

Costa Dias, Monica.

Meghir, Costas.

Series:

Working Paper Series (National Bureau of Economic Research) no. w21004.

NBER working paper series no. w21004

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2015.

Summary:

We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public commodities under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.

Notes:

Print version record

April 2015.