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household decisions, particularly in the cases of widowhood and divorce. Children also play a fundamental role in portfolio …
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This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex … reference level of marriage expenditure for such families. Using the 2013 China Household Finance Survey data, we find that a 0 …
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has had significant financial contribution to the family …
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has had significant financial contribution to the family …
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allocations observed in the data. Finally, the risk-sharing benefits of marriage imply a positive link between wealth and risky …
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