Downloads
Read the working paper
PDF | 1.08 MB
We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public commodities under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.
Authors
Research Fellow Yale University
Costas is a Research Fellow of the IFS and a Professor of Economics at Yale University and a Visiting Professor at University College London.
Deputy Research Director
Monica is a Deputy Research Director and Professor of Economics at the University of Bristol, with an interest in Labour, Family and Public Economics.
Columbia University
Working Paper details
- DOI
- 10.1920/wp.ifs.2016.1609
- Publisher
- Institute for Fiscal Studies
Suggested citation
P, Chiappori and M, Costa Dias and C, Meghir. (2016). The marriage market, labour supply and education choice. London: Institute for Fiscal Studies. Available at: https://ifs.org.uk/publications/marriage-market-labour-supply-and-education-choice (accessed: 4 May 2024).
More from IFS
Understand this issue
If you can’t see it, you can’t be it: role models influence female junior doctors’ choice of medical specialty
24 April 2024
Sure Start achieved its aims, then we threw it away
15 April 2024
Retirement is not always a choice that workers can afford to make
6 November 2023
Policy analysis
The short- and medium-term impacts of Sure Start on educational outcomes
9 April 2024
Sure Start greatly improved disadvantaged children’s GCSE results
9 April 2024
What you need to know about the new childcare entitlements
28 March 2024
Academic research
Labour market inequality and the changing life cycle profile of male and female wages
15 April 2024
Interpreting cohort profiles of lifecycle earnings volatility
15 April 2024
There and back again: women’s marginal commuting costs
2 April 2024