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Children are increasingly born into cohabiting parent families, but we know little to date about the implications of this family pattern for children's lives. We examine whether children born into premarital cohabitation and first marriages experience similar rates of parental disruption, and whether marriage among cohabiting parents enhances union stability. These issues are important because past research has linked instability in family structure with lower levels of child well-being. Drawing on the 1995 National Survey of Family Growth, we find that white, black and Hispanic children born to cohabiting parents experience greater levels of instability than children born to married parents. Moreover, black and Hispanic children whose cohabiting parents marry do not experience the same levels of family stability as those born to married parents; among white children, however, the marriage of cohabiting parents …