Abstract
This study finds that marital happiness initially increases with income and then remains more or less constant. It is likely that there exists an optimal number of children.
Notes
The test procedure follows Johnston and DiNardo (Citation1997), pp. 257–59. The instrumental variables for K and K 2 The test procedure follows Johnston and DiNardo (Citation1997), pp. 257–59. The instrumental variables for K and K 2 are MAYR, the husband's wage, educational attainment and age, and the wife's wage, educational attainment and age. It should be noted that since the number of children is a nonnegative integer, the Poisson model is used. Estimates of
One might doubt that different income levels could result in different optimal numbers of children. The intersection of I × K is also tested in each model, but it is insignificant and does not change the conclusion.