The Marriage Market, Labor Supply and Education Choice

Pierre-Andre Chiappori, Monica Costa Dias and Costas Meghir
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Pierre-Andre Chiappori: Dept. of Economics, Columbia University

No 1994R, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investmentsin 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.

Keywords: Marriage market; Human capital; Labor supply; Life cycle models; Intrahousehold allocations; Collective model; Education choice; Returns to education (search for similar items in EconPapers)
JEL-codes: H31 I24 I26 J12 J16 J22 J24 (search for similar items in EconPapers)
Pages: 89 pages
Date: 2015-03, Revised 2016-07
New Economics Papers: this item is included in nep-ltv, nep-pbe and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: The Marriage Market, Labor Supply, and Education Choice (2018)
Working Paper: The Marriage Market, Labor Supply and Education Choice (2016)
Working Paper: The marriage market, labour supply and education choice (2016)
Working Paper: The Marriage Market, Labor Supply and Education Choice (2016)
Working Paper: The marriage market, labor supply and education choice (2015)
Working Paper: The Marriage Market, Labor Supply and Education Choice (2015)
Working Paper: The marriage market, labor supply and education choice (2015)
Working Paper: The Marriage Market, Labor Supply and Education Choice (2015)
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