EconStor Collection:
http://hdl.handle.net/10419/47454
2024-03-19T11:23:28ZIntergenerational altruism and transfers of time and money: a life cycle perspective
http://hdl.handle.net/10419/284237
Title: Intergenerational altruism and transfers of time and money: a life cycle perspective
Authors: Bolt, Uta; French, Eric; Hentall-MacCuish, Jamie; O'Dea, Cormac
Abstract: Parental investments significantly impact children's outcomes. Exploiting panel data covering individuals from birth to retirement, we estimate child skill production functions and embed them into an estimated dynastic model in which altruistic mothers and fathers make investments in their children. We find that time investments, educational investments, and assortative matching have a greater impact on generating inequality and intergenerational persistence than cash transfers. While education subsidies can reduce inequality, due to an estimated dynamic complementarity between time investments and education, it is crucial to announce them in advance to allow parents to adjust their investments when their children are young.2023-01-01T00:00:00ZFirm concentration & job design: The case of schedule flexible work arrangements
http://hdl.handle.net/10419/284240
Title: Firm concentration & job design: The case of schedule flexible work arrangements
Authors: Adams, Abi; Balgova, Maria; Qian, Matthias; Waters, Tom
Abstract: We build a model of job design under monopsony that yields predictions over the relationship between: (i) the amenity value of non-wage job features; (ii) whether they are costly or profitable to firms; (iii) monopsony power. We analyse the amenity value of schedule flexibility offered in the labour market by combining our model's predictions with a new measure of schedule flexibility, which we construct from job vacancy text using a supervised machine learning approach. We show that the amenity value of schedule flexibility depends crucially on whether it is offered alongside a salaried contract that insures workers from earnings variation.2023-01-01T00:00:00ZA spouse and a house are all we need? Housing demand, labor supply and divorce over the lifecycle
http://hdl.handle.net/10419/284261
Title: A spouse and a house are all we need? Housing demand, labor supply and divorce over the lifecycle
Authors: de Rock, Bram; Kovaleva, Mariia; Potoms, Tom
Abstract: To analyze the impact of changes in the value of marriage on household decisions, we present a limited commitment framework of household behavior in which decisions are made regarding labor supply, divorce and housing demand over the lifecycle. We identify and estimate our structural model using exogenous variation in female labor supply and divorce rates due to the White v. White case in England. We conclude that limited commitment dampens the added worker effect, while the changes in the value of marriage due to a housing price shock have an asymmetric impact on individual welfare both across gender and marital state. We also show that tightening the credit market in different ways can lead to opposite behavior in terms of household savings and female labor supply.2023-01-01T00:00:00ZWealth and welfare across generations
http://hdl.handle.net/10419/284241
Title: Wealth and welfare across generations
Authors: Sturrock, David
Abstract: Although older generations have substantially more wealth than their recent predecessors did at the same age, younger generations do not. Bringing together UK data on those born between the 1930s and 1980s and a lifecycle model of saving, I quantify whether this is due to changes in preferences or changes in the circumstances each generation has faced. Changing circumstances can rationalise slowing generation-on-generation wealth growth. I find no evidence that later-born generations are less patient. I quantify the implications of changing circumstances for consumption and welfare. Later-born generations are predicted to have higher consumption, despite accumulating no greater wealth, than their predecessors because their earnings are more 'backloaded', they have fewer children, and face lower taxation.2023-01-01T00:00:00Z