Transitions from home to marriage of young Americans
The paper examines the impact of income on the transitions between home, living independently and first marriage of young Americans. A matching model is outlined, similar to that used in theories of job search, to explain the probability of marriage and living alone. A multiple state, multiple transition model which allows for correlated heterogeneity on the first and subsequent transitions is estimated. The result show that income has a strong and significant effect. The impact of unobserved heterogeneuty is examined in detail. The impact of the young person´s earning on the transitions is explored through simulation. (AUTHORS)
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