Social observers are quite concerned by the decline in marriage, rise in divorce diminishing role of families and the associated changes in gender roles, fertility, and the welfare of children. Economists bring a relatively new perspective into this domain and examine modes of family behavior in a marriage “market”. From an economic point of view, marriage is a partnership for the purpose of joint production and joint consumption. The production and rearing of children is the most commonly recognized role of the family. But there are other important functions, division of labor, sharing of collective (non rival) goods, extending credit and risk pooling. The gains from marriage associated with these functions depend on the coordination between spouses, the degree of assortative mating, and the availability of market substitutes. Thus, the labor market and the marriage market interact.
The economics of the family
Date & Time
From: 12 October 2006
Until: 13 October 2006
Type
Masterclass
Venue
The Institute for Fiscal Studies
7 Ridgmount Street,
Fitzrovia,
London,
WC1E 7AE
Fitzrovia,
London,
WC1E 7AE
Prices
HE Delegates: £60
Other Delegates: £1000