The Marginal Propensity to Spend on Adult Children PDF Download
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Author: Joseph G. Altonji
Publisher:
ISBN:
Category : Inheritance and succession
Languages : en
Pages : 41
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Book Description
Abstract: We examine how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in the form of inter vivos transfers and bequests. We infer bequests from the stock of wealth late in life. We use mortality rates and age specific estimates of the response of transfers and wealth to permanent income to compute the expected present discounted values of these responses to permanent income. Our estimates imply that parents pass on between 2 and 3 cents out of an extra dollar of expected lifetime resources in bequests and about 2 cents in transfers. The estimates increase with parental income and are smaller for nonwhites. They imply that about 15 percent of the effect of parental income on lifetime resources of adult children is through transfers and bequests and about 85 percent is through the intergenerational correlation in earnings, although these estimates are sensitive to assumptions about the intergenerational earnings correlation, taxes, and the number of children. We compare our estimates to the implications of alternative computable benchmark models of savings behavior in order to assess the likely importance of intended bequests for the wealth/income relationship.
Author: Joseph G. Altonji
Publisher:
ISBN:
Category : Inheritance and succession
Languages : en
Pages : 41
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Book Description
Abstract: We examine how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in the form of inter vivos transfers and bequests. We infer bequests from the stock of wealth late in life. We use mortality rates and age specific estimates of the response of transfers and wealth to permanent income to compute the expected present discounted values of these responses to permanent income. Our estimates imply that parents pass on between 2 and 3 cents out of an extra dollar of expected lifetime resources in bequests and about 2 cents in transfers. The estimates increase with parental income and are smaller for nonwhites. They imply that about 15 percent of the effect of parental income on lifetime resources of adult children is through transfers and bequests and about 85 percent is through the intergenerational correlation in earnings, although these estimates are sensitive to assumptions about the intergenerational earnings correlation, taxes, and the number of children. We compare our estimates to the implications of alternative computable benchmark models of savings behavior in order to assess the likely importance of intended bequests for the wealth/income relationship.
Author: William S. Comanor
Publisher: Edward Elgar Publishing
ISBN: 9781845420710
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
'This urgently needed, groundbreaking book provides solid data that coincides with the real life stories I have been hearing for years from men and women nationwide regarding unfair child support laws and policies that have resulted in adverse effects on their children and families. I anticipate that this book will have a major positive impact on social policy and the general collective attitudes toward families in today's society. The information presented in this book must be read and understood by every policymaker to insure that child support policies are made just and fair so that all families can prosper.' - Dianna Thompson, National Family Justice Association, US The delinquent payment of child support by non-custodial to custodial parents is a major problem throughout the United States. To many observers, the problem is one of 'deadbeat dads' - men who simply will not make the required payments. The solution has been to enforce payment by the imposition of increasingly stringent civil and criminal penalties. Despite these efforts, the percentage of single mothers receiving child support has changed very little over the past twenty-five years. The Law and Economics of Child Support Payments investigates why this is, and approaches the payment of child support as an economic problem.
Author: Edward Cartwright
Publisher: Routledge
ISBN: 1351600036
Category : Business & Economics
Languages : en
Pages : 556
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Book Description
Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting and fascinating, and have fundamentally changed the way we look at economic behavior. This textbook introduces all the key results and insights of behavioral economics to a student audience. Ideas such as mental accounting, prospect theory, present bias, inequality aversion and learning are explained in detail. These ideas are also applied in diverse settings such as auctions, stock market crashes, charitable donations and health care, to show why behavioral economics is crucial to understanding the world around us. Consideration is also given to what makes people happy, and how we can potentially nudge people to be happier. This new edition contains expanded and updated coverage of contract theory, bargaining in the family, time and risk, and stochastic reference points, among other topics, to ensure that readers are kept up to speed with this fast-paced field. The companion website is also updated with a range of new questions and worked examples. This book remains the ideal introduction to behavioral economics for advanced undergraduate and graduate students.
Author: T. Paul Schultz
Publisher: Elsevier
ISBN: 0080569420
Category : Business & Economics
Languages : en
Pages : 1055
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Book Description
The field of development economics has evolved since volume 3 of the Handbook of Development Economics was published more than a decade ago. Volume 4 takes stock of some of the newer trends and their implications for research in the field and our understanding of economic development. The handbook is divided into four sections which reflect these developments, of which the first deals with agricultural and rural development. Section two is concerned with developments in the theory and evidence regarding public goods and political economy. The third section is focused on the behavior of households and individuals regarding various aspects of human capital investments, in the face of the various constraints, particularly market incentives and public goods. The final section contains papers that describe the different methods now available, both experimental and non-experimental, to conduct program evaluations, as well as describing papers that implement these methods. The authors of the chapters are all experts in the fields they survey and extend, and this volume promises to be an invaluable addition to the Handbooks in Economics series and a useful reference to graduate students, researchers and professionals in the field of development economics. Presents an accurate, self-contained survey of the current state of the field Summarizes the most recent discussions in journals, and elucidates new developments Although original material is also included, the main aim is the provision of comprehensive and accessible surveys
Author: Yale Law Journal
Publisher: Quid Pro Books
ISBN: 1610278348
Category : Law
Languages : en
Pages : 388
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Book Description
The contents of the May 2015 issue (Volume 124, Number 7) are: Articles • Defining and Punishing Offenses Under Treaties, Sarah H. Cleveland & William S. Dodge • Administrative Severability Clauses, Charles W. Tyler & E. Donald Elliott Notes • Class Ascertainability, Geoffrey C. Shaw • The Right To Be Rescued: Disability Justice in an Age of Disaster, Adrien A. Weibgen • Expanding Conscience, Shrinking Care: The Crisis in Access to Reproductive Care and the Affordable Care Act’s Nondiscrimination Mandate, Elizabeth B. Deutsch Features • Conscience Wars: Complicity-Based Conscience Claims in Religion and Politics, Douglas NeJaime & Reva B. Siegel • Legal Scholarship for Judges, Diane P. Wood Book Review • The Banality of Racial Inequality, Richard R.W. Brooks Comment • Federal Sentencing Error as Loss of Chance, Kate Huddleston Quality ebook formatting includes fully linked footnotes and an active Table of Contents (including linked Contents for all individual Articles, Notes, and Essays), proper Bluebook formatting, and active URLs in footnotes.
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 614
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Book Description
Author: M. Ohidul Haque
Publisher: Springer Science & Business Media
ISBN: 0387243445
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
This volume is mainly concerned with methods of estimating income elasticity. It is connected with economic development that can be achieved by reducing income inequality, a highly relevant subject in today’s world for a wide range of policy areas.
Author: Rob Ranyard
Publisher: John Wiley & Sons
ISBN: 111892648X
Category : Business & Economics
Languages : en
Pages : 472
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Book Description
A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.
Author: Arne Bigsten
Publisher: Nordic Africa Institute
ISBN: 9789171065261
Category : History
Languages : en
Pages : 204
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Book Description
Ethiopia is one of the poorest countries in the world with a per capita income of just above US$100. With such a low average income, poverty is of course widespread, so understanding the causes of poverty is of utmost importance, but until recently very little household-data has been available. This study deals with many aspects of poverty and income-distribution in Ethiopia, providing a wealth of information on household-income and its determinants. The book is of interest both to academics working on poverty analysis and to policy makers and donors collaborating with Ethiopia.
Author: Louis Kaplow
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 32
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Book Description
