Family Economics Writ Large

79 Pages Posted: 17 Nov 2016 Last revised: 6 Mar 2019

See all articles by Jeremy Greenwood

Jeremy Greenwood

University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)

Nezih Guner

Universidad Carlos III de Madrid; Centre for Economic Policy Research (CEPR); IZA Institute of Labor Economics

Guillaume Vandenbroucke

Federal Reserve Banks - Federal Reserve Bank of St. Louis

Multiple version iconThere are 4 versions of this paper

Date Written: 2016-11-01

Abstract

Powerful currents have reshaped the structure of families over the last century. There has been (i) a dramatic drop in fertility and greater parental investment in children; (ii) a rise in married female labor-force participation; (iii) a significant decline in marriage and a rise in divorce; (iv) a higher degree of positive assortative mating; (v) more children living with a single mother; (vi) shifts in social norms governing premarital sex and married women's roles in the workplace. Macroeconomic models explaining these aggregate trends are surveyed. The relent-less flow of technological progress and its role in shaping family life are stressed.

Keywords: Assortative mating, baby boom, baby bust, family economics, female labor supply, fertility, household income inequality, household production, human capital, macroeconomics, marriage and divorce, quality-quantity tradeoff, premarital sex, quantitative theory, single mothers, social change, survey paper, technological progress, women’s rights

JEL Classification: D1, E2, J1, O1, O4, Z1

Suggested Citation

Greenwood, Jeremy and Guner, Nezih and Vandenbroucke, Guillaume, Family Economics Writ Large (2016-11-01). FRB St. Louis Working Paper No. 2016-26. Available at SSRN: https://ssrn.com/abstract=2871080 or http://dx.doi.org/10.20955/wp.2016.026

Jeremy Greenwood (Contact Author)

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
133 South 36th Street
Philadelphia, PA 19104-6297
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215-898-1505 (Phone)

HOME PAGE: http://jeremygreenwood.net

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Nezih Guner

Universidad Carlos III de Madrid ( email )

CL. de Madrid 126
Madrid, Madrid 28903
Spain

Centre for Economic Policy Research (CEPR)

London
United Kingdom

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Guillaume Vandenbroucke

Federal Reserve Banks - Federal Reserve Bank of St. Louis ( email )

411 Locust St
Saint Louis, MO 63011
United States
+1 314 444 8717 (Phone)

HOME PAGE: http://www.guillaumevdb.net/

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