Inflation and Other Aggregate Determinants of the Trend in U.S. Divorce Rates since the 1960s
This paper extends empirical research on determinants of divorce in two ways. First, I examine the effect of inflation on divorce. Second, the use of a structural time-series modeling approach attributes unobservables and omitted variables to an unobserved component, which allows for the model’s parameters to be estimated consistently. Inflation is statistically significant, positive, and persistent. I show that the effects of inflation are robust to the inclusion of additional explanatory variables and various trend specifications. The long-run implications of inflation are also substantial. I conclude that price stability has the potential to reduce divorce rates.
|Date of creation:||Sep 2007|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.mtsu.edu/~berc/working/Economics_Working_Papers.html|
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