A Joint Dynamic Model of Fertility and Work of Married Women

  • Francesconi M
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JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. This article estimates a dynamic model of fertility and labor supply of married women drawn from the National Longitudinal Survey of Young Women, 1968–91. It distinguishes part-time and full-time em-ployment sectors, which differ by pecuniary and nonpecuniary re-turns and transferability of human capital. The model with unob-served heterogeneity in earning ability and preferences for children fits the data and produces reasonable forecasts of labor force partic-ipation in decisions. The estimates unpack important features of the persistence in labor market decisions, intertemporal substitution of leisure over the life cycle, and the effect of work interruptions, due to childbirth, on lifetime utility.

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  • Marco Francesconi

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