Why Inflation Matters to Household Structure & Habits
摘要
Ongoing changes in marriage decisions—particularly the increasing delays in age at first marriage—are shown to be one of the consequences of the institutions and habits of an inflation culture. Furthermore, fertility decline and divorce patterns since the 1960s are plausibly connected to the same. Whenever a new variable is brought to the scientific debate, one must humbly submit the new variable, acknowledging that previously examined correlations and causal factors are not being dismissed. Here, the habits and institutions of the inflation culture are acknowledged as just one factor that have driven family change. Nevertheless, any refusal to consider the impact of expansionary monetary policy and the incentives it creates for households represents an incomplete effort in explaining the transformation of family life that has swept the globe under the universal influence inflationary central banking policymakers.