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Investment in Schooling and the Marriage Market

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Author Info
Pierre-Andre Chiappori
Yoram Weiss () (Economics University of Colorado)
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. Schooling investments generate two kinds of returns in our framework: 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 labormarket 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://stripe.colorado.edu/~iyigun/ciwinvestspec060606.pdf
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Publisher Info
Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 43.

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Date of creation: 03 Dec 2006
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Handle: RePEc:red:sed006:43

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Related research
Keywords: Pre-Marital Investments Intra-Household Allocations Assortative Matching.

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General

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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!]
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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)
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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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  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)
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Cited by:
(explanations, 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. Helena Skyt Nielsen & Michael Svarer, 2006. "Educational Homogamy: Preferences or Opportunities?," IZA Discussion Papers 2271, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  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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