Family Economics Writ Large
Powerful currents have reshaped the structure of families over the last century. There has been (i) a dramatic drop in fertility and greater parental investment in children; (ii) a rise in married female labor-force participation; (iii) a significant decline in marriage and a rise in divorce; (iv) a higher degree of positive assortative mating; (v) more children living with a single mother; (vi) shifts in social norms governing premarital sex and married women's roles in the workplace. Macroeconomic models explaining these aggregate trends are surveyed. The relentless flow of technological progress and its role in shaping family life are stressed.
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Document Object Identifier (DOI): 10.3386/w23103
Published: Jeremy Greenwood & Nezih Guner & Guillaume Vandenbroucke, 2016. "Family Economics Writ Large," Federal Reserve Bank of St. Louis, Working Papers, vol 2016(026).