More on Marriage, Fertility and the Distribution of Income
University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)
Universidad Carlos III de Madrid; Centre for Economic Policy Research (CEPR); Institute for the Study of Labor (IZA)
University of Pennsylvania - Department of Economics; Institute for the Study of Labor (IZA)
According to Pareto (1896), the distribution of income depends on "the nature of the people comprising a society, on the organization of the latter, and, also, in part, on chance." In the model developed here the "nature of the people" is captured by attitudes toward marriage, divorce, fertility, and children. Singles search for mates in a marriage market. Married agents bargain about work, and the quantity and quality of children. They can divorce. Social policies, such as child support requirements, reflect the "organization of the (society)." Finally, "chance" is modelled by randomness in income, marriage opportunities, and marital bliss.
Number of Pages in PDF File: 41
Keywords: Fertility, Marriage and Divorce, Nash Bargaining, Income Distribution, Public Policy
JEL Classification: E1, D1, J1
Date posted: April 14, 2002
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