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Marriage and Men's Wealth Accumulation in the United States, 1860-1870

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  • Sok Chul Hong

    (Sogang University)

Abstract

This paper explores how changes in marital status affected men��s wealth accumulation in mid-nineteenth-century America, using a longitudinal sample of Union Army veterans linked to the 1860 and 1870 census manuscript schedules. Controlling for the endogeneity of wealth and marital selection, this paper provides strong evidence that marriage had positive effects on men��s wealth accumulation, whereas ending a marriage had negative effects. The estimated wealth premium on married men is about 60 percent per marital year. This substantial wealth premium is closely related to wives�� specializing in household production, and farmers and craftsmen economically benefited from the unpaid labor of their wives.

Suggested Citation

  • Sok Chul Hong, 2010. "Marriage and Men's Wealth Accumulation in the United States, 1860-1870," Korean Economic Review, Korean Economic Association, vol. 26, pages 27-58.
    • Handle: RePEc:kea:keappr:ker-20100630-26-1-02
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    References listed on IDEAS

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    More about this item

    Keywords

    Marriage; Divorce; Men��s Wealth Accumulation; Nineteenth-Century America;
    All these keywords.

    JEL classification:

    • N31 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: Pre-1913
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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