Three Essays on the Economics of Household Decision Making PDF Download
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Author: Vipul Bhatt
Publisher:
ISBN:
Category :
Languages : en
Pages : 95
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Book Description
Abstract: My research emphasizes the role of interrelated preferences in determining economic choices within a household. In this regard, I study both intergenerational interactions (between parents and children) and intragenerational interactions (between spouses). These linkages have important implications on individual economic behavior such as savings, labor supply, investment in human capital, and bequests which in turn affects aggregate savings and growth.
Author: Vipul Bhatt
Publisher:
ISBN:
Category :
Languages : en
Pages : 95
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Book Description
Abstract: My research emphasizes the role of interrelated preferences in determining economic choices within a household. In this regard, I study both intergenerational interactions (between parents and children) and intragenerational interactions (between spouses). These linkages have important implications on individual economic behavior such as savings, labor supply, investment in human capital, and bequests which in turn affects aggregate savings and growth.
Author: Katia Covarrubias
Publisher:
ISBN:
Category :
Languages : en
Pages : 210
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Author: Alexandre Fon
Publisher:
ISBN:
Category :
Languages : en
Pages : 151
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This dissertation contains three essays in applied microeconomics, with a focus on household decision-making.In the first chapter, I study the effect of asymmetric information about income on household decisions, resource sharing, and welfare. I proceed in four steps. In the first step, I develop a theoretical model that accounts for the possible existence of asymmetric information. The model predicts that households will partly mitigate the welfare cost of asymmetric information by incentivizing the wage earner to provide information about his or her true income. These incentives are provided by making the consumption share increase with reported income: the wage earner's consumption share is high when reporting a high income and low when reporting a low income. Second, I derive a new non-parametric identification result for this model. Third, I estimate the model using a survey of Bangladeshi day laborers. The estimation confirms the predictions of the model, providing evidence that the households in the data are affected by asymmetric information. Finally, I conduct three counterfactual analyses to document how asymmetric information interacts with policies and compute the willingness to pay in each case. In the second chapter, which is co-authored with Maria Casanova and Maurizio Mazzocco, we show that the intratemporal and intertemporal preferences of each decision-maker in the household can be identified even if individual consumption is not observed. This identification result is used jointly with the Consumer Expenditure Survey (CEX) to estimate the intratemporal and intertemporal features of individual preferences. The empirical findings indicate that there is heterogeneity in intertemporal preferences between wife and husband. In the third chapter, I use a major reform of the parental leave system in Quebec in 2006 to analyze how households make decisions related to parental leave. I show that the introduction of a father's quota - a policy designed to incentivize fathers to take parental leave - was successful in more than doubling the proportion of fathers taking some parental leave. However, the impact on the intensive margin was limited: in 80% of households, mothers take all the leave that is available to both parents. I also use an administrative dataset to analyze the relationship between parental leave decisions and income. In general, households with higher labor income take more parental leave overall (summing the mother's and the father's weeks). However, fathers with higher labor income take less parental leave.
Author: Da Ke
Publisher:
ISBN:
Category :
Languages : en
Pages :
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My dissertation examines economic determinants of household financial decisions and investor behaviors. It contains three essays. The first essay investigates whether gender norms shape intra-household financial decision making. Analyzing microdata covering more than 30 million U.S. households, I document that families with a financially sophisticated husband are more likely to participate in the stock market than those with a wife of equal financial sophistication. Consistent with the gender norm hypothesis, the baseline effect is attenuated among individuals brought up by working mothers, but becomes stronger among descendants of pre-industrial societies in which women specialized in activities within the home and households with a husband born and raised in a southern state. A randomized controlled experiment further reveals that female identity hinders idea contribution by the wife. In contrast, male identity causes men to be less open to an opposing viewpoint of their wife, even if her proposition in optimal. These things suggest that gender identity norms can have real consequences for household financial well-being. The second essay explores the impact of local agglomeration economies on stock market participation. We find that when the industry in which individuals work is locally agglomerated, they are more likely to participate in the stock market. Further, we show that this relationship is especially strong among skilled workers. We find that the local agglomeration effect is not explained by risk tolerance, worker inertia, or a preference for stocks of firms that are in the same industry as the worker. Instead, our findings are consistent with local agglomeration enhancing human capital and in turn, raising workers' optimal allocations to risky assets. More generally, our analysis underscores the role of geography in shaping human capital and household financial decisions. The third essay examines whether momentum in stock prices is induced by changes in the political environment. We find that momentum profits are concentrated among politically sensitive firms and industries. A trading strategy with a long position in winner portfolios that are politically unfavored and a short position in losers that are politically favored eliminates all momentum profits. Further, our political sensitivity based factor explains 25% (40%) of monthly stock (industry) momentum alphas. Collectively, our results suggest that investor underreaction to political information generates momentum in stock and industry returns.
Author: Yu Zhang (Applied economist)
Publisher:
ISBN:
Category : Development economics
Languages : en
Pages : 140
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Book Description
Author: Ramesh Subramaniam
Publisher:
ISBN: 9780315982178
Category : Consumer behavior
Languages : en
Pages : 235
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Author: Hui Mai
Publisher:
ISBN:
Category :
Languages : en
Pages : 132
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Using the National Longitudinal Survey of Youth data, my dissertation investigates several key issues in family economics. The first chapter studies the role of family relocation on children's schooling and youth behavior problems. By exploiting the variation in sibling's age at the time of family relocation, we find no detectable negative effects of family relocation on various children's outcomes. We extend our discussion to the context of school mobility and child outcomes. In the second chapter, we use individual school change history from the NLSY 97 and control for sibling fixed effects to estimate how the variation in children's age at school change would affect a set of outcome variables. We find school change made at age 16-18 would significantly reduce children's education achievement by age 20 and increase their possibility for repeating grade in school. In the third chapter, we examine the impact of family size on maternal health outcomes by exploiting the exogenous change in family size using contraceptive failure as instrument variable. This result indicates that mothers' mental health at age 40 is negatively affected by having additional child while their physical health stays intact.
Author: Barnali Basak
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Abdelrahmen El Lahga
Publisher:
ISBN:
Category :
Languages : en
Pages : 389
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Book Description
This thesis presents four self-contained essays on household economics. The first essay tests whether children of certain age groups should be treated as decision makers within the household, applying an existing testing methodology developed for determining the number of adult decision makers in the context of a collective household model. The second essay compares two types of matrix rank based tests for the number of household decision makers - using conditional and using unconditional demand functions. The analysis shows robust evidence in favour of two decision makers, with the interpretation that husband and wife are separate decision makers.The third essay uses the very general technique of indirect inference to estimate a collective household labour supply model in a new and attractive way, and shows that this technique can be applied very fruitfully here. The last essay analyzes reduced form models of time allocation using panel data models applied to the German Socio-Economic Panel. It exploits variation in marital status of couples over time. Controlling for fixed effects, it finds evidence that marriage increases women specialization in domestic work.
Author: Michael S. Finke
Publisher:
ISBN:
Category : Electronic Dissertations
Languages : en
Pages : 110
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Book Description
This dissertation examines household characteristics the impact financial decision making. The first essay explores the role of cognitive ability in numeracy, risk tolerance, credit decisions, wealth and retirement savings and asset allocation and finds that cognitive ability is an important predictor of financial decisions. The second essay develops a new instrument to measure time discounting and models asset accumulation and asset allocation and finds that a factor score of intertemporal behaviors is significantly related to both asset accumulation and asset allocation. The third essay documents the decline in basic financial knowledge among households over 60 using a new financial literacy instrument developed to more accurately capture a household's ability to make effective balance sheet, credit, investment, and insurance choices.
