Scandinavian Working Papers in Economics
Working Paper Series,
Stockholm University, Swedish Institute for Social Research
No 4/2023: Fortunate Families? The Effects of Wealth on Marriage and Fertility
David Cesarini (), Erik Lindqvist (), Robert Östling () and Anastasia Terksaya ()
Additional contact information
David Cesarini: Department of Economics, New York University, Postal: 19 W. 4th Street, 6FL, New York, NY 10012, United States
Erik Lindqvist: Swedish Institute for Social Research, Stockholm University, Postal: SOFI, Stockholm University, SE-106 91 Stockholm, Sweden
Robert Östling: Department of Economics, Stockholm School of Economics, Postal: P.O. Box 6501, SE-113 83 Stockholm
Anastasia Terksaya: Department of Economics and IEB, Universidad de Barcelona, Postal: Carrer de John Maynard Keynes, 1, 11 , 08034 Barcelona, Spain
Abstract: We estimate the effects of large, positive wealth shocks on marriage and fertility in a sample of Swedish lottery players. For male winners, wealth increases marriage formation and reduces divorce risk, suggesting wealth increases men’s attractiveness as prospective and current partners. Wealth also increases male fertility. The only discernible effect on female winners is that wealth increases their short-run (but not long-run) divorce risk. Our results for divorce are consistent with a model where the wealthier spouse retains most of his/her wealth in divorce. In support of this assumption, we show divorce settlements in Sweden often favor the richer spouse.
Keywords: Fertility; children; marriage; divorce
Language: English
101 pages, April 8, 2024
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