We argue that one of the key channels linking the labor and marriage markets is the decision of when to become a parent. We develop art equilibrium model of marriage, divorce, and human capital accumulation that allows for differential timing of fertility. We calibrate the model to US panel data...

According to Pareto (1896), the distribution of income depends on "the nature of the people comprising a society, on the organization of the latter, and, also, in part, on chance." In the model developed here the "nature of the people" is captured by attitudes toward marriage, divorce,...