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Household Debt and Marital Instability: Evidence from the Korean Labor and Income Panel Study

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Author Info
Yunhee Chang ()
Ki Lee ()
Abstract

Korean society has recently experienced rapid increases in household debt and divorce rates. This study investigates whether household debt and debt ratios lower marital stability and increase the probability of divorce among Korean families. Six-year panels from the Korean Labor and Income Panel Study (KLIPS) household surveys were used for analysis. The effect of household debt upon the probability of divorce was estimated through pooled and population-averaged Logit models. The results suggest that household financial strain measured by the amount of household debt and the debt-to-income ratios does not significantly affect the probability of divorce. This finding contradicts the widespread notion that households’ excessive borrowing has been partially responsible for the recent increase in divorce rates in Korea. Copyright Springer Science+Business Media, Inc. 2006

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File URL: http://hdl.handle.net/10.1007/s10834-006-9039-2
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Publisher Info
Article provided by Springer in its journal Journal of Family and Economic Issues.

Volume (Year): 27 (2006)
Issue (Month): 4 (December)
Pages: 675-691
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Handle: RePEc:kap:jfamec:v:27:y:2006:i:4:p:675-691

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Web page: http://www.springerlink.com/link.asp?id=104904

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Related research
Keywords: Divorce; Financial strain; Household debt; Korean families;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Elizabeth Monk-Turner, Charlie G. Turner, 2001. "Sex Differentials in Earnings in the South Korean Labor Market," Feminist Economics, Taylor and Francis Journals, vol. 7(1), pages 63-78, March. [Downloadable!] (restricted)
  2. Luis Cubeddu & Jose-Victor Rios-Rull, 1997. "Marital risk and capital accumulation," Staff Report 235, Federal Reserve Bank of Minneapolis. [Downloadable!]
  3. Jonathan Fisher & Angela Lyons, 2006. "Till Debt do us Part: A Model of Divorce and Personal Bankruptcy," Review of Economics of the Household, Springer, vol. 4(1), pages 35-52, 03. [Downloadable!] (restricted)
  4. Weiss, Yoram, 1993. "The formation and dissolution of families: Why marry? Who marries whom? And what happens upon divorce," Handbook of Population and Family Economics, in: M. R. Rosenzweig & Stark, O. (ed.), Handbook of Population and Family Economics, edition 1, volume 1, chapter 3, pages 81-123 Elsevier. [Downloadable!] (restricted)
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  5. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug.. [Downloadable!] (restricted)
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  6. Chiswick, Carmel U & Lehrer, Evelyn L, 1990. "On Marriage-Specific Human Capital: Its Role as a Determinant of Remarriage," Journal of Population Economics, Springer, vol. 3(3), pages 193-213, October.
  7. Brenner, R & Dagenais, Marcel G & Montmarquette, C, 1994. "An Overlooked Explanation of the Declining Saving Rate," Empirical Economics, Springer, vol. 19(4), pages 629-37.
  8. Johnson, William R & Skinner, Jonathan, 1986. "Labor Supply and Marital Separation," American Economic Review, American Economic Association, vol. 76(3), pages 455-69, June. [Downloadable!] (restricted)
  9. Weiss, Y. & Willis, R.J., 1995. "Match Quality, New Information and Marital Dissolution," Papers 33-95, Tel Aviv - the Sackler Institute of Economic Studies.
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  10. Gianni La Cava & John Simon, 2003. "A Tale of Two Surveys: Household Debt and Financial Constraints in Australia," RBA Research Discussion Papers rdp2003-08, Reserve Bank of Australia. [Downloadable!]
  11. Becker, Gary S & Landes, Elisabeth M & Michael, Robert T, 1977. "An Economic Analysis of Marital Instability," Journal of Political Economy, University of Chicago Press, vol. 85(6), pages 1141-87, December. [Downloadable!] (restricted)
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  1. Aydogan Ulker, 2009. "Wealth Holdings and Portfolio Allocation of the Elderly: The Role of Marital History," Journal of Family and Economic Issues, Springer, vol. 30(1), pages 90-108, March. [Downloadable!] (restricted)
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