Essay Sample on Correlation Between Marriage and Economics

Abstract

Before marriage, couples are matched based on attributes they depict, however, sorting is defined by the search costs spent during the process. Divorce during a marriage is initiated by newly developed information regarding match quality while on the other hand, remarriage requires an extended search. Even though most women and men engage in marriages, they tend to remain single most of the time, with most children being brought up in single parenthood.

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The aim of the study conducted was to provide an in-depth summary and economic analysis on markets of marriage. The journal describes facts that have been stylized with the purpose of motivating economists and their interest in marriage and divorce. Usually, marriage exhibits a close tie with economic variables including wages and work. The linkage, as well as the significant facts related to the relationship, have been illustrated using US data which demonstrates a similarity compared to that of other developed countries. It has also shown the mode in which the tools utilized by the economists apply within non-economic fields such as marriage, divorce, and fertility. The final section analyzes and highlights significant facts concerning the connections exhibited within the empirical and theoretical evidence provided concerning the issue.

Reference

Weiss, Y. (2008). Marriage and divorce. The New Palgrave Dictionary of Economics.

The study was published in June 2005 and made use of data from the US to conduct inductive research on other developed countries to perform an economic analysis of the marriage market.

Research method

The analysis was conducted using an inductive and quantitative method utilizing data from the US marriage market which depicts a similarity with other markets within most developed countries.

Samples

The survey was carried out on 2,000 married women and men interviewed by paper, telephone or surveys conducted through computers up to six-time within the last 20 years. Children were also interviewed, and additionally, a new random sample was introduced to 2,100 individuals who were married.

Findings

The marriage market is characterized by many changes occurring substantially within the structure of the family. More women and men are getting divorced or taking up alternative arrangements including but not limited to cohabitation. An interesting fact is a rise that is occurring in the rates of divorce and how uniformly the increase exhibits similarity with the number of remarriages happening. Most interviewers had a first marriage and ended up being divorced only to get remarried. The rate of remarriage is above that of early marriage and exceeds the rate of divorce by far which implies that marriage is a naturals state of affairs. According to the study, women tend to get into their first marriage faster than men do whereas after divorce men tend to remarry at higher rates compared to women especially those at old ages.

It also proves that children who lived in broken families have a higher likelihood of living in poverty and exhibit poor performance in schools. The poor performance is depicted before the divorce occurrence which suggests that bad marriages are the main issues affecting children compared to divorce.