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What do economists have to say about behavior within the context of the family? This book improves our understanding of how families and markets interact, why important aspects of families have been changing in recent decades, and how families respond to, and are affected by, public policy. It covers a broader range of topics with more consistency than have previous studies, including all major theoretical developments in the field over the past decade. John Ermisch builds his analysis on the premise that the standard analytical methods of microeconomics can help us understand resource allocation and the distribution of welfare within the family. Families are dynamic institutions--and so the author uses these same methods to study family formation and dissolution (including marriage, fertility, and divorce) and household formation, as well as intergenerational transfers, household production and investment, and bargaining between family members. He also shows how economic theories of the family can help guide and structure empirical analyses of demographic and related phenomena, such as labor supply, child support, and returns to education. Examples of studies that apply the theory are provided throughout the book. The most comprehensive and up-to-date introduction to an increasingly dynamic area of research, one with important implications for public policy, An Economic Analysis of the Family will be a valuable resource for advanced students of microeconomics and also for students and researchers in sociology, psychology, and other social sciences.
This dissertation intends to switch the focus from the study of traditional parental relationships to look at other family and household structures. It examines the dynamics of formation and dissolution of extended-family households in the U.S., and the economic consequences of marriage and cohabitation dissolution for women in Colombia. It includes three empirical chapters conducting secondary data analysis of two large-scale surveys. The first two studies use the Fragile Families and Child Wellbeing Study and its restricted contextual data to document the prevalence, duration and correlates of formation and dissolution of three-generation households in the U.S., paying particular attention to differences by race and ethnicity. Results indicate that three-generation households are more common among racial and ethnic minorities, usually short-lived, common early in a child's life, and that the probability of entry decreases as children age. In addition, they indicate that while children are exposed to parental changes, they are also exposed to non-parental transitions. Moreover, both economic and non-economic factors are associated with the formation and dissolution of three-generation households. As three-generation households in the U.S. continue to rise, these findings highlight the need to examine the role of family and household changes concurrently to better understand their role on children wellbeing, and they suggest the need to examine the use of the private and public safety net. The third study uses the Colombian Longitudinal Survey (ELCA) to examine the consequences of marriage and cohabitation dissolution on women's economic well-being, in comparison to six OECD countries. Results suggest that women who experience the dissolution of their unions in Colombia are usually more socioeconomically advantaged than those who do not, and that they do not experience a significant decrease on their economic well-being post-dissolution. Findings indicate that private transfers from family and friends play an important role in mitigating the effect of union dissolution on women's economic well-being. Overall, this dissertation highlights the role that the private safety net plays in supporting women and children, both in cash support from family and friends and in co-residence, and it calls for the study of alternative living arrangements to the nuclear family.
The family is a complex decision unit in which partners with potentially different objectives make consumption, work and fertility decisions. Couples marry and divorce partly based on their ability to coordinate these activities, which in turn depends on how well they are matched. This book provides a comprehensive, modern and self-contained account of the research in the growing area of family economics. The first half of the book develops several alternative models of family decision making. Particular attention is paid to the collective model and its testable implications. The second half discusses household formation and dissolution and who marries whom. Matching models with and without frictions are analyzed and the important role of within-family transfers is explained. The implications for marriage, divorce and fertility are discussed. The book is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.
A collection of previously published essays that highlights the historical dialogue between neoclassical and institutionalist approaches to the economics of the family. The volume is divided into eight sections: neoclassical perspectives; institutionalist and feminist perspectives; bargaining power models; fertility decline; intergenerational transfers; intra-household allocation; families and class inequality; and families and the state. The earliest of the 31 essays is Schultz's "An Economic Model of Family Planning and Fertility" (1969); the most recent is Folbre's "Children as Public Goods" (1994). No subject index. Annotation copyright by Book News, Inc., Portland, OR
Since 1969, 75 people have been awarded the Nobel Prize in Economics. Recent Recognized "A History of Economic Thought - Contributions of the Nobel Laureates to Economic Science" describes their major accomplishments in a manner so all readers, regardless of their knowledge of economics, can appreciate the efforts of these scholars and their impact on the development and progress of economic science. Begin with a brief tour of economic thought and the factors that have influenced economic doctrine from the 16th through the 20th century. Then, for each Nobel Laureate, learn about their background and professional affiliations. Complete your understanding of each Laureate's accomplishments with a concise, relatively non-technical summary of their Nobel Prize Lecture.
Two generations ago, young men and women with only a high-school degree would have entered the plentiful industrial occupations which then sustained the middle-class ideal of a male-breadwinner family. Such jobs have all but vanished over the past forty years, and in their absence ever-growing numbers of young adults now hold precarious, low-paid jobs with few fringe benefits. Facing such insecure economic prospects, less-educated young adults are increasingly forgoing marriage and are having children within unstable cohabiting relationships. This has created a large marriage gap between them and their more affluent, college-educated peers. In Labor’s Love Lost, noted sociologist Andrew Cherlin offers a new historical assessment of the rise and fall of working-class families in America, demonstrating how momentous social and economic transformations have contributed to the collapse of this once-stable social class and what this seismic cultural shift means for the nation’s future. Drawing from more than a hundred years of census data, Cherlin documents how today’s marriage gap mirrors that of the Gilded Age of the late-nineteenth century, a time of high inequality much like our own. Cherlin demonstrates that the widespread prosperity of working-class families in the mid-twentieth century, when both income inequality and the marriage gap were low, is the true outlier in the history of the American family. In fact, changes in the economy, culture, and family formation in recent decades have been so great that Cherlin suggests that the working-class family pattern has largely disappeared. Labor's Love Lost shows that the primary problem of the fall of the working-class family from its mid-twentieth century peak is not that the male-breadwinner family has declined, but that nothing stable has replaced it. The breakdown of a stable family structure has serious consequences for low-income families, particularly for children, many of whom underperform in school, thereby reducing their future employment prospects and perpetuating an intergenerational cycle of economic disadvantage. To address this disparity, Cherlin recommends policies to foster educational opportunities for children and adolescents from disadvantaged families. He also stresses the need for labor market interventions, such as subsidizing low wages through tax credits and raising the minimum wage. Labor's Love Lost provides a compelling analysis of the historical dynamics and ramifications of the growing number of young adults disconnected from steady, decent-paying jobs and from marriage. Cherlin’s investigation of today’s “would-be working class” shines a much-needed spotlight on the struggling middle of our society in today’s new Gilded Age.