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Investment in Schooling and the Marriage Market

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Author Info
Pierre-Andre Chiappori
Murat Iyigun
Yoram Weiss

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Abstract

We produce a model with pre-marital schooling investment, endogenuos marital matching and spousal specialization in homework and market production Pre-marital investments generate two kinds of returns: a labor-market return due to the education premium and a marriage-market return because education can improve the intra-marital share of the surplus one can extract from marriage. When the returns to education are gender neutral, men and women educate in equal proportions and there is pure positive assortative matching in the marriage markets. But if the returns are not gender neutral, then there is mixing in equilibrium where some educated individuals marry uneducated spouses and those who educate less because their labor-market return is lower extract a relatively larger share of the marital surplus. Conditional on the choice of schooling, couples’ career decisions affect the size of their marital surplus, but the existence of large and frictionless marriage markets can still produce efficient household specialization where the higher-wage spouse specializes in market production and the lower-wage spouse engages in homework. Even when cultural and social norms or the time requirements of homework dictate that wives devote relatively more time to homework, women can acquire more schooling than men if a gender wage gap exists but narrows with the level of education.

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File URL: http://www.ifw-kiel.de/VRCent/DEGIT/paper/degit_11/C011_034.pdf
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Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c011_034.

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Length: 37 pages
Date of creation: Jun 2006
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Handle: RePEc:deg:conpap:c011_034

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  1. Claudia Goldin & Lawrence F. Katz & Ilyana Kuziemko, 2006. "The Homecoming of American College Women: The Reversal of the College Gender Gap," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 133-156, Fall.
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  2. Michael Peters & Aloysius Siow, 2002. "Competing Premarital Investments," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 592-608, June. [Downloadable!] (restricted)
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  3. Albanesi, Stefania & Olivetti, Claudia, 2005. "Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations," CEPR Discussion Papers 4984, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  4. Cole, Harold L. & Mailath, George J. & Postlewaite, Andrew, 2001. "Efficient Non-Contractible Investments in Large Economies," Journal of Economic Theory, Elsevier, vol. 101(2), pages 333-373, December. [Downloadable!] (restricted)
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  5. Michael C. Burda & Daniel S. Hamermesh & Philippe Weil, 2006. "The Distribution of Total Work in the EU and US," IZA Discussion Papers 2270, Institute for the Study of Labor (IZA). [Downloadable!]
  6. Lundberg, Shelly & Pollak, Robert A, 1993. "Separate Spheres Bargaining and the Marriage Market," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 988-1010, December. [Downloadable!] (restricted)
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  7. Murat Iyigun, 2005. "Bargaining and Specialization in Marriage," IZA Discussion Papers 1744, Institute for the Study of Labor (IZA). [Downloadable!]
  8. Mark Aguiar & Erik Hurst, 2006. "Measuring trends in leisure: the allocation of time over five decades," Working Papers 06-2, Federal Reserve Bank of Boston. [Downloadable!]
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  9. Felli, Leonardo & Roberts, Kevin W S, 2002. "Does Competition Solve the Hold-up Problem?," CEPR Discussion Papers 3535, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Yoram Weiss & Reuben Gronau, 1981. "Expected Interruptions in Labor Force Participation and Sex Related Differences in Earnings Growth," NBER Working Papers 0667, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. June E. O'Neill & Dave M. O'Neill, 2005. "What Do Wage Differentials Tell Us about Labor Market Discrimination?," NBER Working Papers 11240, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Mincer, Jacob & Polachek, Solomon, 1974. "Family Investment in Human Capital: Earnings of Women," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages S76-S108, Part II, . [Downloadable!] (restricted)
  13. Lommerud, K.E. & Vagstad, S., 2000. "Mommy Tracks and Public Policy: On Self-Fulfilling Prophecies and Gender Gaps in Promotion," Norway; Department of Economics, University of Bergen 0600, Department of Economics, University of Bergen.
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  14. Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2005. "Engines of Liberation," Review of Economic Studies, Blackwell Publishing, vol. 72(1), pages 109-133, 01. [Downloadable!] (restricted)
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  15. Casey B. Mulligan & Yona Rubinstein, 2005. "Selection, Investment, and Women's Relative Wages Since 1975," NBER Working Papers 11159, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  16. Murat Iyigun & Randall P. Walsh, 2005. "Building the Family Nest: Pre-Marital Investments, Marriage Markets and Spousal Allocations," IZA Discussion Papers 1752, Institute for the Study of Labor (IZA). [Downloadable!]
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  17. Stefania Albanesi & Claudia Olivetti, 2006. "Gender roles and technological progress," 2006 Meeting Papers 411, Society for Economic Dynamics.
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  18. Matthew J. Baker & Joyce P. Jacobsen, 2005. "Marriage, Specialization, and the Gender Division of Labor," Wesleyan Economics Working Papers 2005-001, Wesleyan University, Department of Economics. [Downloadable!]
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  19. Hadfield, Gillian K., 1999. "A coordination model of the sexual division of labor," Journal of Economic Behavior & Organization, Elsevier, vol. 40(2), pages 125-153, October. [Downloadable!] (restricted)
  20. Peters, Michael, 2004. "The Pre-Marital Investment Game," Micro Theory Working Papers peters-04-02-18-01-42-09, Microeconomics.ca Website, revised 13 Sep 2006. [Downloadable!]
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  1. Michael Svarer & Helena Skyt Nielsen, 2006. "Educational Homogamy: Preferences or Opportunities?," Economics Working Papers 2006-10, School of Economics and Management, University of Aarhus. [Downloadable!]
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  2. Junichiro Ishida & Hiromi Nosaka, 2007. "Gender Specialization of Skill Acquisition," Advances in Economic Analysis & Policy, Berkeley Electronic Press, vol. 7(1), pages 1817-1817. [Downloadable!] (restricted)
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