The Great Transition: Kuznets Facts for Family-Economists

50 Pages Posted: 14 Jul 2021

See all articles by Jeremy Greenwood

Jeremy Greenwood

University of Pennsylvania

Nezih Guner

Centre for Monetary and Financial Studies (CEMFI)

Ricardo Marto

University of Pennsylvania - Department of Economics

Date Written: June 2021

Abstract

The 20th century beheld a dramatic transformation of the family. Some Kuznets style facts regarding structural change in the family are presented. Over the course of the 20th century in the United States fertility declined, educational attainment waxed, housework fell, leisure increased, jobs shifted from blue to white collar, and marriage waned. These trends are also observed in the cross-country data. A model is developed, and then calibrated, to address the trends in the US data. The calibration procedure is closely connected to the underlying economic logic. Three drivers of the great transition are considered: neutral technological progress, skilled-biased technological change, and drops in the price of labor-saving household durables.

JEL Classification: D10, E13, J10, O10

Suggested Citation

Greenwood, Jeremy and Guner, Nezih and Marto, Ricardo, The Great Transition: Kuznets Facts for Family-Economists (June 2021). CEPR Discussion Paper No. DP16247, Available at SSRN: https://ssrn.com/abstract=3886716

Jeremy Greenwood (Contact Author)

University of Pennsylvania ( email )

Philadelphia, PA 19104
United States

Nezih Guner

Centre for Monetary and Financial Studies (CEMFI) ( email )

Casado del Alisal 5
28014 Madrid
Spain

Ricardo Marto

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
133 South 36th Street
Philadelphia, PA 19104-6297
United States

HOME PAGE: http://https://www.ricardomarto.com/

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