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THE ECONOMICS OF FAMILY FORMATION*
Author(s) -
KEELEY MICHAEL C.
Publication year - 1977
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1977.tb00468.x
Subject(s) - spouse , economics , marriage market , incentive , urbanization , order (exchange) , labour economics , arranged marriage , demographic economics , microeconomics , sociology , economic growth , anthropology , gender studies , finance
In this article an economic model of the determinants of first marriage is formulated and then empirically tested. The model incorporates household production theory and search theory in order to explain the incentives to marry and the determinants of the age at first marriage. Age at first marriage is viewed as depending on the determinants of entry into the marriage market and the duration of search for a spouse. Empirical results from the 1967 Survey of Economic Opportunity show a negative effect of male wages and a positive effect of female wages on own age at marriage. Additionally, education and urbanization are found to have positive effects and number of children a negative effect.