Marriage Settlements
研究了法国夫妻在共同财产与分别财产两种婚姻财产协议间的选择,发现配偶特征、预期子女数和妻子劳动供给影响选择,而协议又反向影响妻子劳动供给但不影响生育。
French couples may choose between two types of marriage settlements governing asset ownership after a divorce or inheritance: common property or separate property. A cooperative model considers the marriage contract as a means of providing for widowhood of the less endowed spouse. A second model addresses the probability of divorce and the production of a marriage good. The common property contract then becomes a means of inducing the wife to invest in the marriage good. Choice of contract, labor supply and fertility are simultaneous. Empirically we find that characteristics of the spouses such as relative age or differences in endowments influence the choice. So do the expected number of children and the wife's labor supply decision. This last decision is also shown to be influenced by the chosen settlement, while fertility is not.