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A Joint Dynamic Model of Fertility and Work of Married Women

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  • Marco Francesconi

    (University of Essex)

Abstract

This article estimates a dynamic model of fertility and labor supply of married women drawn from the National Longitudinal Survey of Young Women, 196891. It distinguishes part-time and full-time employment sectors, which differ by pecuniary and nonpecuniary returns and transferability of human capital. The model with unobserved heterogeneity in earning ability and preferences for children fits the data and produces reasonable forecasts of labor force participation in decisions. The estimates unpack important features of the persistence in labor market decisions, intertemporal substitution of leisure over the life cycle, and the effect of work interruptions, due to childbirth, on lifetime utility.

Suggested Citation

  • Marco Francesconi, 2002. "A Joint Dynamic Model of Fertility and Work of Married Women," Journal of Labor Economics, University of Chicago Press, vol. 20(2), pages 336-380, Part.
  • Handle: RePEc:ucp:jlabec:v:20:y:2002:i:2:p:336-380
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    References listed on IDEAS

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    1. Wolpin, Kenneth I, 1984. "An Estimable Dynamic Stochastic Model of Fertility and Child Mortality," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 852-874, October.
    2. Hotz, V Joseph & Miller, Robert A, 1988. "An Empirical Analysis of Life Cycle Fertility and Female Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 91-118, January.
    3. Friesen, Jane, 1997. "The Dynamic Demand for Part-Time and Full-Time Labour," Economica, London School of Economics and Political Science, vol. 64(255), pages 495-507, August.
    4. Willis, Robert J, 1973. "A New Approach to the Economic Theory of Fertility Behavior," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages 14-64, Part II, .
    5. Richard Bellman, 1957. "On a Dynamic Programming Approach to the Caterer Problem--I," Management Science, INFORMS, vol. 3(3), pages 270-278, April.
    6. Mary Corcoran & Greg J. Duncan & Michael Ponza, 1983. "A Longitudinal Analysis of White Women's Wages," Journal of Human Resources, University of Wisconsin Press, vol. 18(4), pages 497-520.
    7. Haurin, Donald R, 1989. "Women's Labor Market Reactions to Family Disruptions," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 54-61, February.
    8. James J. Heckman & Thomas E. Macurdy, 1980. "A Life Cycle Model of Female Labour Supply," Review of Economic Studies, Oxford University Press, vol. 47(1), pages 47-74.
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