Family economics
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The family, although recognized as fundamental from Adam Smith on, received little systematic treatment in economics before the 1950s. A significant exception was Thomas Malthus's model of population growth.[1] The work of Gary Becker and others initiated contemporary research on family economics with the application and extension of microeconomic theory and empirical methods.[2] Standard aspects include:
- fertility and the demand for children in developed and developing countries[3]
- child health and mortality[4]
- interrelation and trade-off of 'quantity' and 'quality' of children through investment of time and other resources of parents [5]
- altruism in the family, including the rotten kid theorem[6]
- sexual division of labor, intra-household bargaining, and decision making through the household production function and outside the household.[7]
- mate selection,[8] search costs, marriage, divorce, and imperfect information[9]
- family background and opportunities of children
- intergenerational mobility and inequality,[10] including the bequest motive.[11]
- human capital, social security, and the rise and fall of families[12]
- macroeconomics of the family.[13]
[edit] See also
- Demographic economics
- Economic imperialism (economics)
- Economics of marriage
- Hypergamy
- Cost of raising a child
- Partner effects
[edit] Notes
- ^ [Thomas Robert Malthus], 1798. An Essay on the Principle of Population. Arrow-searchable text.
- ^ • Theodore W. Schultz, ed., .1974. Economics of the Family: Marriage, Children, and Human Capital, chapter-download links. Chicago, University of Chicago Press.
• Gary S. Becker, .1981, Enlarged ed., 1991. A Treatise on the Family. Cambridge, MA: Harvard University Press. ISBN 0-674-90698-5. Publisher's description & links to chapter previews.
• Gary S. Becker, 1987. "family," The New Palgrave: A Dictionary of Economics, v. 2, pp. 281-86. Reprinted in Social Economics: The New Palgrave, 1989, pp. 65-76.
• Theodore C. Bergstrom, 1996. "Economics in a Family Way," Journal of Economic Literature, 34(4), pp. 1903-1934.
• _____, 1997. "A Survey of Theories of the Family," ch. 2 in Handbook of Population and Family Economics, M. R. Rosenzweig and O. Stark, ed., v. 1A, pp. 21-75. Elsevier. - ^ • Alicia Adsera, 2008. "fertility in developed countries," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
• T. Paul Schultz.2008. "fertility in developing countries," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. - ^ Janet Currie, 2008. "child health and mortality," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^ • Gary S. Becker and Nigel Tomes, 1976. "Child Endowments and the Quantity and Quality of Children," Journal of Political Economy, 84(4, Part 2), pp. S143-S162.
• Eric A. Hanushek, 1992. "The Trade-off between Child Quantity and Quality," Journal of Political Economy, 100(1), pp. 84-117.
• Theodore W. Schultz, 1981. Investing in People: The Economics of Population Quality, University of California Press. Description and scroll to chapter-preview links. - ^ Theodore C. Bergstrom, 2008. "Rotten Kid Theorem," The New Palgrave Dictionary of Economics, 2nd Edition, Abstract.
- ^ • Olivier Donni, 2008. "collective models of the household." The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
• Shelly Lundberg and Robert A. Pollak, 2008. "family decision making," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. - ^ Hao Li, 2008. "assortative matching," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^ Yoram Weiss, 2008. "marriage and divorce," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^ Gary Solon, 2008. "intergenerational income mobility," " The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^ • Laurence J. Kotlikoff and Lawrence H. Summers, 1981), "The Role of Intergenerational Transfers in Aggregate Capital Accumulation." Journal of Political Economy, 89(40), pp. 70 6-732.
• John Laitner, 2008. "bequests and the life cycle model," The New Palgrave Dictionary of Economics, 2nd Edition.Abstract.
• Kathleen McGarry, 2008. "inheritance and bequests." The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. - ^ • Oded Galor, 2008. "human capital, fertility and growth," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
• John Ermisch, 2008. "family economics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. - ^ • Gary S. Becker, 1988. "Family Economics and Macro Behavior," American Economic Review, 78(1) , pp. 1-13.
• John Ermisch, 2003. An Economic Analysis of the Family, Princeton. Description, Chapter 1 "Introduction" (press +), chapter-preview links.
• Mark R. Rosenzweig and Oded Stark, ed., 1997. Handbook of Population and Family Economics. lst-page ch. links, v. 1A & v. 1B, pp. 1422. Elsevier. Description, v. 1A preview, and ch. 1 link.
[edit] References
- Yoram Ben-Porath, 1982. "Economics and the Family-Match or Mismatch? A Review of Becker's A Treatise on the Family," Journal of Economic Literature, 20(1) (March), pp. 52-64.
- Theodore C. Bergstrom and Mark Bagnoli, 1993. "Courtship as a Waiting Game," Journal of Political Economy, 101(1), pp. 185-202.
- Richard A. Berk, 1987. "household production," The New Palgrave: A Dictionary of Economics, v. 2, pp. 673-75.
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