Economists have previously suggested that gains from marriage can be generated by complementarities in production (gains from specialization and exchange) or by complementarities in consumption (gains from joint consumption of household public goods and joint time consumption). This paper uses...

In direct contrast to conventional wisdom and most economic models of marital age gaps, we present robust evidence that men and women who are married to differently aged spouses are negatively selected. Empirical results show lower cognitive ability, lower educational attainment, lower...

Human capital theory predicts that individuals acquire less schooling when the returns to schooling are small. To test this theory, the authors study the effect of the Appalachian coal boom on high school enrollments. During the 1970s, a boom in the coal industry increased the earnings of high...