An aggregate economic value perspective on Korea’s marriage decline: transitory and secular
Jung Hyuk Lee et al.
What the paper says
Marriage rates in Korea have been declining at an unprecedented pace in the recent two decades. Drawing on the classical economic theory of marriage as a rational choice, we compute local aggregate economic values of prime-age working men and women to examine the relationship between the relative values of men and marriage rates. The relative values of men fell dramatically by 40% during this period, undermining the economic justification of marriage under unequal allocation of housework. The two-way fixed effects estimation using region-year transitory variations shows that a 1% decrease in the relative values of men was associated with a 0.088% decrease in marriage rates. To explain the precipitous convergence of economic values between the two genders, we decompose the changes in the relative values into four components – (gender-neutral) structural changes, (gender-specific) industrial segregation, (gender-neutral) wage growth, and (gender-specific) wage gaps within industries – to measure their contributions to secular marriage decline. In the 2000s, both the alleviated industrial segregation and the structural changes toward industries with higher female proportions played a major role. On the other hand, the impact of reduced gender wage gaps within industries also became prominent in the 2010s.
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.50 × 0.4 = 0.20 |
| M · momentum | 0.50 × 0.15 = 0.07 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.