The marriage market, labor supply and education choice

Arbeitspapier

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 intra-household allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: cemmap working paper ; No. CWP14/15

Classification and Topics

• Classification: Wirtschaft ; Econometric and Statistical Methods and Methodology: General ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models ; General Financial Markets: General (includes Measurement and Data) ; Asset Pricing; Trading Volume; Bond Interest Rates
• Subject: Bubbles ; Fads ; Martingale ; Momentum ; Predictability

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Chiappori, Pierre-Andre ; Dias, Monica Costa ; Meghir, Costas
• Event: Veröffentlichung
• (who): Centre for Microdata Methods and Practice (cemmap)
• (where): London
• (when): 2015

Further information

• DOI: doi:10.1920/wp.cem.2015.1415
• Handle: http://hdl.handle.net/10419/130029
• Last update: 10.03.2025, 11:45 AM CET