Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130029
Authors: 
Chiappori, Pierre-Andre
Dias, Monica Costa
Meghir, Costas
Year of Publication: 
2015
Series/Report no.: 
cemmap working paper, Centre for Microdata Methods and Practice CWP14/15
Abstract: 
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 intra-household allocation of resources. Following marriage households (married or single) save, supply labor and consume private and public under uncertainty. Marriage thus has the dual role of providing public goods and offering risk sharing. The model is estimated using the British HPS.
Subjects: 
Bubbles
Fads
Martingale
Momentum
Predictability
JEL: 
C10
C32
G10
G12
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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