Randall Wright, Ray Zemon Professor of Liquid Assets in the Department of Finance, Investment, and Banking at the UW-Madison Wisconsin School of Business
When taxes and inflation are low, marriage rates drop, according to research co-authored by Randall Wright, Ray Zemon Professor of Liquid Assets in the finance department at the Wisconsin School of Business.
Wright’s research was recently featured in a Minneapolis Star Tribune article titled “Can Economists Explain the Falling Marriage Rate?”
His findings contradict the commonly held belief that having more money supports a person’s decision to marry and start a family.
“We found that if people live in a country or decade with high inflation and taxation, they bring more economic activity in house rather than paying outside parties to complete household tasks—which means growing the size of the household through marriage, taking on roommates, or living with parents,” Wright says.
Read the full article on the Minneapolis Star Tribune website. For more on this topic see Wright’s recent post on the School’s Forward Thinking Faculty Blog.