Marriage, the Sharing Rule, and Pocket Money: The Case of South Korea
AbstractUsing longitudinal data on private consumption from South Korea, this article examines the marital balance of power between spouses in a dynamic setting by allowing for unobserved heterogeneity at the household level and spouses' time-constant unobserved bargaining power. I find that unobserved power plays a significant role in intrahousehold resource allocation. The income pooling hypothesis is no longer rejected after accounting for unobserved power. Relative spousal earnings may be a good proxy for the long-term balance of power to an extent that cross-sectional variation in relative earnings across households reflects the pattern of spousal matching. However within-marriage changes in relative earnings do not induce any significant resource transfer between spouses. The balance of bargaining power is stable within marriage.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Economic Development and Cultural Change.
Volume (Year): 55 (2007)
Issue (Month): 3 (April)
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Web page: http://www.journals.uchicago.edu/EDCC/
Other versions of this item:
- Jungmin Lee, 2007. "Marriage, the Sharing Rule, and Pocket Money: The Case of South Korea," Economic Development and Cultural Change, University of Chicago Press, vol. 55, pages 557-581.
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- Amuedo-Dorantes, Catalina & Bonke, Jens & Grossbard, Shoshana, 2010. "Income Pooling and Household Division of Labor: Evidence from Danish Couples," IZA Discussion Papers 5418, Institute for the Study of Labor (IZA).
- Kawaguchi, Daiji & Lee, Jungmin & Hamermesh, Daniel S., 2012.
"A Gift of Time,"
IZA Discussion Papers
6700, Institute for the Study of Labor (IZA).
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