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Journal articles on the topic 'New Household Economics'

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Author: Grafiati

Published: 10 December 2022

Last updated: 28 January 2023

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1

Coibion, Olivier, Yuriy Gorodnichenko, Marianna Kudlyak, and John Mondragon. "Greater Inequality and Household Borrowing: New Evidence from Household Data." Journal of the European Economic Association 18, no. 6 (January 6, 2020): 2922–71. http://dx.doi.org/10.1093/jeea/jvz076.

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Abstract Using household-level debt data over 2000–2012 and local variation in inequality, we show that low-income households in high-inequality regions (zip codes, counties, states) accumulated less debt relative to their income than low-income households in lower inequality regions. We also find evidence that low-income households face higher credit prices and reduced access to credit as inequality increases. We argue that these patterns are consistent with inequality tilting credit supply away from low-income households and toward high-income households, which may have long-run implications for outcomes like homeownership or entrepreneurship.

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2

Cloyne, James, Clodomiro Ferreira, and Paolo Surico. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism." Review of Economic Studies 87, no. 1 (January 3, 2019): 102–29. http://dx.doi.org/10.1093/restud/rdy074.

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Abstract Using household survey data for the U.S. and the U.K., we show that the aggregate response of consumption to interest rate changes is driven by households with a mortgage. Outright home-owners do not adjust expenditure at all while renters change their spending but by less than mortgagors. Income rises for all households as interest rate cuts directly affect firm investment and household consumption, boosting aggregate demand. A crucial difference between the housing tenure groups is the composition of their balance sheets: mortgagors hold sizable illiquid assets but little liquid wealth. Our results reveal that general equilibrium effects on household income coupled with balance-sheet-driven heterogeneity in the marginal propensity to consume play a key role in the transmission of monetary policy.

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3

Dynan, Karen E. "Changing Household Financial Opportunities and Economic Security." Journal of Economic Perspectives 23, no. 4 (November 1, 2009): 49–68. http://dx.doi.org/10.1257/jep.23.4.49.

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Households have experienced an expansion of financial opportunities over the past several decades. Expanded financial opportunities, such as the democratization of credit and new lending approaches, can yield benefits in terms of household economic security. However, the financial crisis that began in 2007 has powerfully illustrated that expanded financial opportunities can also pose dangers for households. By increasing the scope for investment in risky assets, people may end up with larger swings in wealth than they had anticipated. Households may borrow too much and then face obligations that are unsustainable given their resources. To explore these issues, I examine household data on wealth, assets, and liabilities going back 25 years and, in some cases, 45 years. I argue that changes in household finances in the decades leading up to the mid-1990s—including the gradual rise in indebtedness—likely increased household well-being, on balance, and contributed to a decline in aggregate economic volatility. However, changes in finances since the mid-1990s—in particular, a much sharper rate of increase in household debt—appear to have been destabilizing for many individual households and ultimately for the economy as a whole. I consider how the lessons learned in the current crisis might change household financial opportunities and choices going forward.

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4

Hori, Masahiro, Nahoko Mitsuyama, and Satoshi Shimizutani. "New Evidence on Intra-Household Allocation of Resources in Japanese Households." Japanese Economic Review 67, no. 1 (July 19, 2015): 77–95. http://dx.doi.org/10.1111/jere.12076.

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5

Gibson, John. "The Papua New Guinea Household Survey." Australian Economic Review 33, no. 4 (December 2000): 377–80. http://dx.doi.org/10.1111/1467-8462.00169.

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6

BINH, TRAN NAM, and PETER WHITEFORD. "Household Equivalence Scales: New Australian Estimates from the 1984 Household Expenditure Survey." Economic Record 66, no. 3 (September 1990): 221–34. http://dx.doi.org/10.1111/j.1475-4932.1990.tb01724.x.

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7

Vashist, B. K., and R. K. Rana. "New Household Economics: Some Evidence in Support of It." Indian Economic Journal 37, no. 4 (June 1990): 67–73. http://dx.doi.org/10.1177/0019466219900406.

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8

Narloch, Ulf, and Mook Bangalore. "The multifaceted relationship between environmental risks and poverty: new insights from Vietnam." Environment and Development Economics 23, no. 3 (April 5, 2018): 298–327. http://dx.doi.org/10.1017/s1355770x18000128.

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AbstractDespite complex interlinkages, insights into the multifaceted relationship between environmental risks and poverty can be gained through an analysis of different risks across space, time and scale within a single context using consistent methods. Combining geo-spatial data on eight environmental risks and household survey data from 2010–2014 for the case study of Vietnam, this paper shows: (i) at the district level, the incidence of poverty is higher in high risk areas, (ii) at the household level, poorer households face higher environmental risks, (iii) for some risks the relationship with household-level consumption varies between rural and urban areas, and (iv) environmental risks explain consumption differences between households, but less so changes over time. While altogether these analyses cannot establish a causal relationship between environmental risks and poverty, they do indicate that Vietnam's poor are disproportionally exposed. Given growing pressures due to climate change, addressing such risks should be a focus of poverty reduction efforts.

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9

Meager, Rachael. "Aggregating Distributional Treatment Effects: A Bayesian Hierarchical Analysis of the Microcredit Literature." American Economic Review 112, no. 6 (June 1, 2022): 1818–47. http://dx.doi.org/10.1257/aer.20181811.

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Expanding credit access in developing contexts could help some households while harming others. Microcredit studies show different effects at different quantiles of household profit, including some negative effects; yet these findings also differ across studies. I develop new Bayesian hierarchical models to aggregate the evidence on these distributional effects for mixture-type outcomes such as household profit. Applying them to microcredit, I find a precise zero effect from the fifth to seventy-fifth quantiles, and uncertain yet large effects on the upper tails, particularly for households with business experience. These quantile estimates are more reliable than averages because the data are fat tailed. (JEL G21, G51, L25, O16, P34)

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10

Mian, Atif, and Amir Sufi. "House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis." American Economic Review 101, no. 5 (August 1, 2011): 2132–56. http://dx.doi.org/10.1257/aer.101.5.2132.

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Borrowing against the increase in home equity by existing homeowners was responsible for a significant fraction of the rise in US household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Instrumental variables estimation shows that homeowners extracted 25 cents for every dollar increase in home equity. Home equity–based borrowing was stronger for younger households and households with low credit scores. The evidence suggests that borrowed funds were used for real outlays. Home equity–based borrowing added $1.25 trillion in household debt from 2002 to 2008, and accounts for at least 39 percent of new defaults from 2006 to 2008. JEL: D14, R31

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11

Bagi, Faqir Singh. "New Household Economics and the Theories of Marriage and Fertility." Indian Economic Journal 37, no. 4 (June 1990): 60–66. http://dx.doi.org/10.1177/0019466219900405.

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12

Carroll, Christopher D., Jiri Slacalek, and Kiichi Tokuoka. "The Distribution of Wealth and the MPC: Implications of New European Data." American Economic Review 104, no. 5 (May 1, 2014): 107–11. http://dx.doi.org/10.1257/aer.104.5.107.

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Using a standard, realistically calibrated model of buffer-stock saving with transitory and permanent income shocks, we study how cross-country differences in the wealth distribution and household income dynamics affect the marginal propensity to consume out of transitory shocks (MPC). Across the 15 countries in our sample, we find that the aggregate consumption response ranges between 0.1 and 0.4 and is stronger (i) in economies with large wealth inequality, where a larger proportion of households has little wealth, (ii) under larger transitory income shocks, and (iii) when we consider households only use liquid assets (rather than net wealth) to smooth consumption.

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Galliera, Arianna, and E. Elisabet Rutström. "Crowded out: Heterogeneity in risk attitudes among poor households in the US." Journal of Risk and Uncertainty 63, no. 2 (October 2021): 103–32. http://dx.doi.org/10.1007/s11166-021-09363-8.

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AbstractNot much is known about the heterogeneity of risk attitudes among poor households in rich countries. This paper provides estimates from a unique data set collected among the urban poor in Atlanta, Georgia. The data set includes lab-in-the-field experiments on the relationship between risk attitudes and several household characteristics. Apart from looking at income, wealth, and education, we are particularly interested in household composition as it captures the number and kind of people who are dependant on the income of the household head. Heads of households who are less risk averse may be willing to take on the extra risk from smaller resource margins resulting from additional dependants, implying a negative relationship between household size and risk aversion. However, if the size of the household is a result of exogenous forces some heads of households may become more risk averse with more dependants. Household size can also reflect a risk management choice that involves adding non-dependant members who can provide resources and risk sharing. However, this possibility is limited to homes that are not already too crowded. We find that household size correlates positively with the risk aversion of the head, but with a large proportion of children the correlation is strongly dampened. However, this negative effect of children is conditional on the home not already being crowded. These heterogeneous findings have implications for the design of new insurance, savings, and credit programs where risk attitudes are important to the decisions to adopt.

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14

Sieg, Holger, and Chamna Yoon. "Waiting for affordable housing in New York City." Quantitative Economics 11, no. 1 (2020): 277–313. http://dx.doi.org/10.3982/qe1160.

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We develop a new dynamic equilibrium model with heterogeneous households that captures the most important frictions that arise in housing rental markets and explains the political popularity of affordable housing policies. We estimate the model using data collected by the New York Housing Vacancy Survey in 2011. We find that there are significant adjustment costs in all markets as well as serious search frictions in the market for affordable housing. Moreover, there are large queuing frictions in the market for public housing. Having access to rent‐stabilized housing increases household welfare by up to $ 65 , 000 . Increasing the supply of affordable housing by 10 % significantly improves the welfare of all renters in the city. Progressive taxation of higher‐income households that live in public housing can also be welfare improving.

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15

Yuan, Xiaojun, Yinjie Shen, and Haigang Zhou. "House price and household consumption in China: evidence from micro-level data." International Journal of Housing Markets and Analysis 13, no. 3 (April 27, 2020): 475–501. http://dx.doi.org/10.1108/ijhma-10-2019-0103.

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Purpose This paper aims to identify how house price affects household consumption. Design/methodology/approach The authors use a micro-level data set that tracks the house price and consumption of a vast number of households over a period of four years. OLS regression is the main econometric method. Findings The authors document robust evidence that an increase in house prices stimulates household consumption, regardless of whether a household owns or rents. Moreover, the authors find that both acquiring and losing homeownership negatively affects household consumption. Further investigation suggests significant regional heterogeneity in the relationship between house prices and household consumption. Originality/value This is one of the first studies examining the relationship between house price and household consumption in China using micro-level data. Given the uniqueness of the Chinese housing market and China’s fast-growing consumption rate, the study contributes new evidence to the long-lasting debate.

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16

Ni, Shawn, and Youn Seol. "New evidence on excess sensitivity of household consumption." Journal of Monetary Economics 63 (April 2014): 80–94. http://dx.doi.org/10.1016/j.jmoneco.2014.01.004.

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17

Li, Li, Atsushi Tsunekawa, Ian MacLachlan, Guicai Li, Atsushi Koike, and Yuanyuan Guo. "Conservation payments, off-farm employment and household welfare for farmers participating in the “Grain for Green” program in China." China Agricultural Economic Review 12, no. 1 (October 28, 2019): 71–89. http://dx.doi.org/10.1108/caer-06-2018-0124.

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Purpose The purpose of this paper is to examine the factors (including conservation payments) that influence household decisions to participate in off-farm work and estimate the impact of participation on household welfare under the auspices of the Grain for Green (GfG) program. Design/methodology/approach The authors used survey data from 225 farm households on the Loess Plateau and addressed the possible sample selection and endogeneity problems by employing a jointly estimated endogenous switching regression (ESR) model. Findings The findings of this paper are as follows: off-farm participation is positively related to households’ educational attainment and negatively related to their land resource endowment and the presence of children; participation in off-farm work exerts positive effects on household income and per capita household income, but negative effects on farm productivity; and conservation payments show no significant impact on off-farm participation, no significant impact on any of the three household welfare indicators for off-farm non-participant households, but a significantly negative impact for off-farm participant households. Originality/value This paper makes two contributions. First, the authors address the selection bias and endogeneity problem of GfG participating households by employing the ESR method and explicitly estimating the treatment effects of off-farm participation on their household welfare. Neglecting these problems leads to biased estimates and misleading policy implications. Second, this analysis stresses the important role of government in reducing market or institutional failure and other barriers that impede farmers’ efficient allocation choices instead of compensating households for conserving sloping land, shedding new light on the most effective policy options to achieve the program’s goals.

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18

PATTANAYAK, SUBHRENDU K., ERIN O. SILLS, and RANDALL A. KRAMER. "Seeing the forest for the fuel." Environment and Development Economics 9, no. 2 (April 2, 2004): 155–79. http://dx.doi.org/10.1017/s1355770x03001220.

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We demonstrate a new approach to understanding the role of fuelwood in the rural household economy by applying insights from travel cost modeling to author-compiled household survey data and meso-scale environmental statistics from Ruteng Park in Flores, Indonesia. We characterize Manggarai farming households' fuelwood collection trips as inputs into household production of the utility yielding service of cooking and heating. The number of trips taken by households depends on the shadow price of fuelwood collection or the travel cost, which is endogenous. Econometric analyses using truncated negative binomial regression models and correcting for endogeneity show that the Manggarai are ‘economically rational’ about fuelwood collection and access to the forests for fuelwood makes substantial contributions to household welfare. Increasing cost of forest access, wealth, use of alternative fuels, ownership of kerosene stoves, trees on farm, park staff activity, primary schools and roads, and overall development could all reduce dependence on collecting fuelwood from forests.

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19

Hara, Nobuko. "Unpaid Labor and the Critique of Political Economy in Home Economics and New Household Economics:." History of Economic Thought 58, no. 1 (2016): 1–20. http://dx.doi.org/10.5362/jshet.58.1_1.

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20

Bento, Antonio M., Lawrence H. Goulder, Mark R. Jacobsen, and Roger H. von Haefen. "Distributional and Efficiency Impacts of Increased US Gasoline Taxes." American Economic Review 99, no. 3 (May 1, 2009): 667–99. http://dx.doi.org/10.1257/aer.99.3.667.

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We examine the impacts of increased US gasoline taxes in a model that links the markets for new, used, and scrapped vehicles and recognizes the considerable heterogeneity among households and cars. Household choice parameters derive from an estimation procedure that integrates individual choices for car ownership and miles traveled. We find that each cent-per-gallon increase in the price of gasoline reduces the equilibrium gasoline consumption by about 0.2 percent. Taking account of revenue recycling, the impact of a 25-cent gasoline tax increase on the average household is about $30 per year (2001 dollars). Distributional impacts depend importantly on how additional revenues from the tax increase are recycled. (JEL D12, H22, H25, L62, L71)

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21

Dinkelman, Taryn. "The Effects of Rural Electrification on Employment: New Evidence from South Africa." American Economic Review 101, no. 7 (December 1, 2011): 3078–108. http://dx.doi.org/10.1257/aer.101.7.3078.

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This paper estimates the impact of electrification on employment growth by analyzing South Africa's mass roll-out of electricity to rural households. Using several new data sources and two different identification strategies (an instrumental variables strategy and a fixed effects approach), I find that electrification significantly raises female employment within five years. This new infrastructure appears to increase hours of work for men and women, while reducing female wages and increasing male earnings. Several pieces of evidence suggest that household electrification raises employment by releasing women from home production and enabling microenterprises. Migration behavior may also be affected. (JEL H54, L94, L98, O15, O18, R23)

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22

Hyde, William F., and Gregory S. Amacher. "Applications of environmental accounting and the new household economics: new technical economic issues with a common theme in forestry." Forest Ecology and Management 83, no. 3 (July 1996): 137–48. http://dx.doi.org/10.1016/0378-1127(96)03724-3.

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23

Su, Baozhong. "Pensions and household consumption in rural China." China Agricultural Economic Review 9, no. 4 (November 6, 2017): 522–34. http://dx.doi.org/10.1108/caer-09-2017-0160.

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Purpose The purpose of this paper is to examine the new rural social pension program’s effect on household consumption in rural China. Design/methodology/approach The paper employs field data in Hebei Province and comprehensively applies the ordinary least squares regression model and the difference-in-difference matching method. Findings The findings show that participation in the Program may not obviously increase household consumption, rather it significantly inhibits the marginal propensity of young families’ consumption temporarily without an apparent impact on participating households’ consumption. Practical implications In addition to maintain the stability of the basic system framework of the new rural social pension program and preserve or increase the value of the fund under the Program, dynamic adjustments to pension levels should be made as and when appropriate. Originality/value The study provides a new empirical evidence for the relationship between the new rural social pension program and consumption and gives insight into potential modifications and improvements to the Program.

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24

Jędrzychowska, Anna. "A Bridge Life Insurance for Households—Diagnosis and Motives." Risks 10, no. 4 (April 8, 2022): 81. http://dx.doi.org/10.3390/risks10040081.

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Purpose: The purpose of this article is to describe the initial concept of household bridging insurance. Design/methodology/approach: In the first part of the article, an extensive literature review is made. This is made to show the research gap of insufficient protection of households against destabilization resulting from the lost personal contribution. Data shown in the text present the scale of the loss of lost unpaid work (based on household time budgets). The existing methods of managing this loss, based on social insurance, are also shown. Findings: This paper discusses the possibility of creating a new insurance. Its need is indicated (research gap, the scale of the problem, and insufficient protection by the social insurance system) and a preliminary outline of its structure is indicated (annuities character, dynamic sum insured related to the lifecycle of the household). The article contains the theoretical background of the new product, and introduces further research on the use of multistate models in the construction and calculation of insurance premiums. Originality/value: So far, studies concerning, inter alia, personal damage indicate the lost personal contribution (unpaid work for household members) and even try to evaluate it. However, no private insurance has been proposed to mitigate the destabilization resulting from the death of an adult household member. The article therefore proposes a new life insurance (a separated policy or as an extension option) that would help the household to return to normal operation after the death of one of the household members.

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25

Luetticke, Ralph. "Transmission of Monetary Policy with Heterogeneity in Household Portfolios." American Economic Journal: Macroeconomics 13, no. 2 (April 1, 2021): 1–25. http://dx.doi.org/10.1257/mac.20190064.

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This paper assesses the importance of heterogeneity in household portfolios for the transmission of monetary policy in a New Keynesian business cycle model with uninsurable income risk and assets with different liquidity. In this environment, monetary transmission works through investment, but redistribution lowers the elasticity of investment via two channels: (i) heterogeneity in marginal propensities to invest, and (ii) time variation in the liquidity premium. Monetary contractions redistribute to wealthy households who have high propensities to invest and a low marginal value of liquidity, thereby stabilizing investment. I provide empirical evidence for countercyclical liquidity premia and heterogeneity in household portfolio responses. (JEL E12, E32, E52, G11, G51)

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26

Birt, Sarah. "Artistic households: the economics of creative work in seventeenth-century London." Historical Research 94, no. 265 (June 4, 2021): 489–507. http://dx.doi.org/10.1093/hisres/htab016.

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Abstract This article offers new insights into women’s occupational identities and the production of art in seventeenth-century London. The identification of a previously overlooked portraitist named Anne Wemyss (1633–98) shows that she was part of a much wider circle of artists and elite patrons active during this period. An exploration of the training afforded to a number of female Painter-Stainers’ Company apprentices that were connected to artistic households, followed by a micro-historical study of the gender division of labour in Mary Beale’s household studio, further credits women’s creative work in the wider economy.

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Ehmke, Mariah D., Travis Warziniack, Christiane Schroeter, and Kari Morgan. "Applying Experimental Economics to Obesity in the Family Household." Journal of Agricultural and Applied Economics 40, no. 2 (August 2008): 539–49. http://dx.doi.org/10.1017/s1074070800023828.

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The objective of this study is to identify experimental economic tools that can be employed to explain the role of economic behavior in overweight and obesity in the household. We identify three economic experiments that can be used to understand how parent-child economic relationships relate to obesity. Loss aversion experiments are discussed as a tool to understand challenges some individuals face in achieving a healthy diet. Finally, testbed experiments are introduced as a means to test and understand new policies and incentives for better health at the household level.

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Furtan, W. H., and J. S. Clark. "An Application of the New Household Economics to Explaining Farm Income Distributions." Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie 32, no. 1 (November 13, 2008): 151–62. http://dx.doi.org/10.1111/j.1744-7976.1984.tb02007.x.

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GILES, DAVID E. A., and PETER HAMPTON. "An Engel Curve Analysis of Household Expenditure in New Zealand." Economic Record 61, no. 1 (March 1985): 450–62. http://dx.doi.org/10.1111/j.1475-4932.1985.tb01997.x.

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30

Simmons-Mosley, Tammie X., and Stephen Malpezzi. "Household mobility in New York City’s regulated rental housing market." Journal of Housing Economics 15, no. 1 (March 2006): 38–62. http://dx.doi.org/10.1016/j.jhe.2005.09.004.

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31

Zhao, Qiran, Stephan Brosig, Renfu Luo, Linxiu Zhang, Ai Yue, and Scott Rozelle. "The new rural social pension program in rural China: participation and its correlates." China Agricultural Economic Review 8, no. 4 (November 7, 2016): 647–61. http://dx.doi.org/10.1108/caer-07-2016-0116.

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Purpose The need for a universal rural pension system has been heightened by demographic changes in rural China, including the rapid aging of the nation’s rural population and a dramatic decline in fertility. In response to these changes, China’s Government introduced the New Rural Social Pension Program (NRSPP) in 2009, a voluntary and highly subsidized pension scheme. The purpose of this paper is to assess the participation of rural farmers in the NRSPP. Furthermore, the authors examine whether the NRSPP affects the labor supply of the elderly population in China. Design/methodology/approach This paper uses household-level data from a sample of 2,020 households originating from a survey conducted by the authors in five provinces, 25 counties, and 101 villages in rural China. Using a probit model and conducting correlation analysis, the authors demonstrate the factors affecting the participation and the impact of NRSPP on labor supply of the rural elderly. Findings The results show there are several factors that are correlated with participation, such as specific policy variant in force in the respective household's province, the size of the pension payout from government, the age of sample individuals, and the value of household durable assets. Specifically, different characteristics of NRSPP policy implementation increase participation in China’s social pension program. The results suggest that the introduction of the NRSPP has not affected the labor supply of the rural elderly, in general, although it has reduced participation for the elderly who were in poor health. Originality/value Several previous studies have covered the NRSPP. However, all previous studies were based on case studies or just focused on a small region, and for this reason the results cannot reflect the populations and heterogeneity of rural areas. Therefore, a data set with a large sample size is used in this paper to provide a new perspective to fully understand the participation of NRSPP and its impacts on rural households. This paper will make an update contribution to the literature in the area of pension programs in China.

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Gerber, Nicolas, and Anik Bhaduri. "Producers' Well-Being and Natural Resource Extraction: The Eaglewood Trade in Papua New Guinea." Agricultural and Resource Economics Review 46, no. 1 (February 9, 2017): 21–43. http://dx.doi.org/10.1017/age.2016.33.

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We illustrate how natural resource dependent and isolated communities manage their forest stock. Our model is based on field observations of the Eaglewood trade in Papua New Guinea. Using a dynamic model of household utility maximization and simulations, we analyze the impact of variations in the (monopsonistic) resource price on the households’ consumption choices and their allocation of effort across depletive and nondepletive activities. The stock of forest is embedded directly in the households’ utility function (existence value) and in their (nonseparable) production and consumption functions. We show that poverty (in production assets) does not inevitably lead to stock depletion.

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Farber, Henry S., Daniel Herbst, Ilyana Kuziemko, and Suresh Naidu. "Unions and Inequality over the Twentieth Century: New Evidence from Survey Data." Quarterly Journal of Economics 136, no. 3 (April 9, 2021): 1325–85. http://dx.doi.org/10.1093/qje/qjab012.

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Abstract U.S. income inequality has varied inversely with union density over the past 100 years. But moving beyond this aggregate relationship has proven difficult, in part because of limited microdata on union membership prior to 1973. We develop a new source of microdata on union membership dating back to 1936, survey data primarily from Gallup (N ≈ 980,000), to examine the long-run relationship between unions and inequality. We document dramatic changes in the demographics of union members: when density was at its mid-century peak, union households were much less educated and more nonwhite than other households, whereas pre-World War II and today they are more similar to nonunion households on these dimensions. However, despite large changes in composition and density since 1936, the household union premium holds relatively steady between 10 and 20 log points. We use our data to examine the effect of unions on income inequality. Using distributional decompositions, time series regressions, state-year regressions, as well as a new instrumental-variable strategy based on the 1935 legalization of unions and the World War II–era War Labor Board, we find consistent evidence that unions reduce inequality, explaining a significant share of the dramatic fall in inequality between the mid-1930s and late 1940s.

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Epple, Dennis, Michael Peress, and Holger Sieg. "Identification and Semiparametric Estimation of Equilibrium Models of Local Jurisdictions." American Economic Journal: Microeconomics 2, no. 4 (November 1, 2010): 195–220. http://dx.doi.org/10.1257/mic.2.4.195.

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We develop a new model of household sorting in a system of residential neighborhoods. We show that this model is partially identified without imposing parametric restrictions on the distribution of unobserved tastes for neighborhood quality and the shape of the indirect utility function. The proof of identification is constructive and can be used to derive a new semiparameteric estimator. Our empirical application focuses on residential choices in the Pittsburgh metropolitan area. We find that sorting of households with children exhibit more stratification by income than sorting of households without children. (JEL C51, D12, H41, J12, R21, R23)

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Rong, Zhao, and Yao Feng. "Local spillovers and durable adoption: evidence from durable consumptions in rural China." China Agricultural Economic Review 6, no. 1 (January 28, 2014): 158–74. http://dx.doi.org/10.1108/caer-02-2012-0019.

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Purpose – The effects of social learning and network externalities in the diffusion of a new product imply that there should be local spillovers from existing owners to new adopters in a closely related community. Using the data from a unique household survey in rural China, this paper aims to examine the importance of local spillovers in the diffusion of two major durable goods, washing machine and refrigerator. Design/methodology/approach – Based on a 1999 rural household survey of durable goods consumption conducted by the National Bureau of Statistics (NBS) of China, the authors examine the likelihood of rural households adopting a washing machine and a refrigerator during 1998-1999, respectively. Findings – The estimation results indicate that a household is more likely to buy its first durable good in villages where a large share of households already own one. Further evidence suggests that these patterns are unlikely to be explained by unobserved local characteristics. When examined in more detail, the extent of local spillovers appears to be positively related to the household education level. Originality/value – First, the study reveals the importance of local spillovers in the diffusion of these two durables. Specifically, 64 percent of washing machine adoptions during 1998-1999 are due to these spillovers. For refrigerator adoptions, the proportion is 55 percent. Second, to the authors' best knowledge, the authors are among the first to test and provide evidence on the interaction between education level and local spillovers based on the learning hypothesis.

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Bullock, Renee, Amos Gyau, Dagmar Mithoefer, and Marilyn Swisher. "Contracting and gender equity in Tanzania: using a value chain approach to understand the role of gender in organic spice certification." Renewable Agriculture and Food Systems 33, no. 1 (April 3, 2017): 60–72. http://dx.doi.org/10.1017/s1742170517000151.

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AbstractValue chain development (VCD) initiatives within the horticultural and organic sectors in Africa are promising strategies to improve smallholder welfare. Contracting institutional arrangements are a common feature of VCD initiatives and are increasing in number in sub-Saharan Africa as a way to source organic products from smallholder producers. The objective of this study is to better understand men and women's participation in spice producing households that sell under contract and in conventional market chains in the East Usambaras, Tanzania. We draw on New Institutional Economics, political economy and the value chain analysis framework to assess the potential role of contracting to promote gender equity among smallholder organic horticultural producers. We describe intra-household decision making over resources and marketing, access to benefits of contracting, and labor distribution between men and women in contracting and non-contracting households. We then extend the gender analysis to evaluate the role of gender in contracting and conventional value chains operating within the community and district. Using a cross-sectional research design and data collected through 13 focus group discussions, 54 personal interviews and 156 household questionnaires, we show that contracting reduces transaction costs in the chain compared with the conventional trade. However, norms in the wider political economic context give rise to gendered patterns of participation in both household and chain activities in contracting and non-contracting households. Our findings suggest that contracting does not provide significant opportunities for women in married households to participate and benefit based on limited participation in decision-making and access to trainings. Divorced women and widows gain access to contract employment opportunities to earn income. This study highlights the importance of understanding gender relations in the household and community to guide the development of gender equitable VCD initiatives and contracting approaches.

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Lami, Endrit, Holger Kächelein, and Drini Imami. "A new view into political business cycles: Household behaviour in Albania." Acta Oeconomica 64, Supplement-1 (December 1, 2014): 201–24. http://dx.doi.org/10.1556/aoecon.64.2014.s1.8.

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Over the last decades, there has been plenty of research and publications on Political Business Cycles (PBC), aimed at analysing and explaining the use of fiscal and monetary instruments to stimulate economic growth before elections, with the intention of impressing potential voters. Previous research on PBC in Albania reveals clear evidence of fiscal expansion before elections, but no significant changes in GDP and inflation as theory predicts. One possible explanation of this result could be economic agents’ expectations, which is the subject of this paper. We analyse consumers’ expectations before elections, the main factors underlying expectations, and the way in which these expectations influence their behaviour toward spending, and consequently the macroeconomic outcomes, deploying standard econometric methods widely applied in PBC related research. According to our research results, households’ consumption spending decreases before elections because of the higher uncertainty about their future economic situation due to the highly politicised public employment.

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Mora Rivera, José Jorge. "THE IMPACT OF MIGRATION AND REMITTANCES ON DISTRIBUTION AND SOURCES OF INCOME: THE MEXICAN RURAL CASE." PANORAMA ECONÓMICO 9, no. 17 (February 21, 2017): 36. http://dx.doi.org/10.29201/pe-ipn.v9i17.52.

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The objective of this research is to determine the impact of migration and remittances on rural households’ income sources, as well as the implications of these impacts on the income distribution of the source communities. Using data from the Mexico National Rural Household Survey (Encuesta Nacional a Hogares Rurales de México, ENHRUM), the results show that national remittances and the predicted number of internal migrants impact in a positive way the incomes obtained from livestock activities. However, international remittances impact negatively on this income source due to the household’s loss of one of its members. Also, the results support the new economics of labor migration (NELM) hypothesis that points out that the remittances eliminate restrictions in different types of rural households’productive activities.

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Jin, Fangyi. "Revisiting the composition puzzles of the household portfolio: New evidence." Review of Financial Economics 20, no. 2 (May 2011): 63–73. http://dx.doi.org/10.1016/j.rfe.2011.03.001.

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Quick, Paddy. "Modes of Production and Household Production." Review of Radical Political Economics 48, no. 4 (October 11, 2016): 603–9. http://dx.doi.org/10.1177/0486613416655455.

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This paper consists of a brief presentation of modes of production in class societies, highlighting the significance of household production in these. This is followed by a new approach to the conceptualization of the (non-class) communist mode of production and the place of household production in such a society.

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Mokyr, Joel. "Why “More Work for Mother?” Knowledge and Household Behavior, 1870–1945." Journal of Economic History 60, no. 1 (March 2000): 1–41. http://dx.doi.org/10.1017/s0022050700024633.

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It is widely agreed that the burden of housework in the industrialized West did not decrease as much as might be expected since 1880, and may have actually increased for long periods. The article proposes a new explanation: that increases in knowledge on the causes and transmission mechanisms of infectious diseases persuaded women that household members' health depended on the amount of housework carried out. The article traces the origin of this knowledge in the scientific developments of the nineteenth century and describes the mechanisms by which households were persuaded to allocate more time and resources to housework.

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Coibion, Olivier, and Yuriy Gorodnichenko. "Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation." American Economic Journal: Macroeconomics 7, no. 1 (January 1, 2015): 197–232. http://dx.doi.org/10.1257/mac.20130306.

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We evaluate explanations for the absence of disinflation during the Great Recession and find popular explanations to be insufficient. We propose a new explanation for this puzzle within the context of a standard Phillips curve. If firms' inflation expectations track those of households, then the missing disinflation can be explained by the rise in their inflation expectations between 2009 and 2011. We present new econometric and survey evidence consistent with firms having similar expectations as households. The rise in household inflation expectations from 2009 to 2011 can be explained by the increase in oil prices over this time period. (JEL D84, E24, E32, E52, E58, Q35)

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Obben, James, and Monique Waayer. "New Zealand's old‐age pension scheme and household saving." International Journal of Social Economics 38, no. 9 (August 2, 2011): 767–88. http://dx.doi.org/10.1108/03068291111157230.

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Cloyne, James, Kilian Huber, Ethan Ilzetzki, and Henrik Kleven. "The Effect of House Prices on Household Borrowing: A New Approach." American Economic Review 109, no. 6 (June 1, 2019): 2104–36. http://dx.doi.org/10.1257/aer.20180086.

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We investigate the effect of house prices on household borrowing using administrative mortgage data from the United Kingdom and a new empirical approach. The data contain household-level information on house prices and borrowing in a panel of homeowners, who refinance at regular and quasi-exogenous intervals. The data and setting allow us to develop an empirical approach that exploits house price variation coming from the idiosyncratic and exogenous timing of refinance events around the Great Recession. We present two main results. First, there is a clear and robust effect of house prices on borrowing. Second, the effect of house prices on borrowing can be explained largely by collateral effects. We study the collateral channel through a multivariate and nonparametric heterogeneity analysis of proxies for collateral and wealth effects. (JEL D14, E32, R31)

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Al-Islam, Shamil M., Fayeeka Simanna Prachee, and Md Khaled Saifullah. "The Impact of Remittances on Children’s Education in Bangladesh." Jurnal Institutions and Economies 14, no. 3 (July 1, 2022): 87–110. http://dx.doi.org/10.22452/ijie.vol14no3.4.

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Inward remittance is one of the major sources of foreign income for Bangladesh and its economic significance at both macro and household levels is evident in the existing literature. This study iassesses the impact of remittances on school enrolment of children in Bangladesh by utilising cross-sectional household-level data obtained from the Household Income and Expenditure Survey 2016. Employing a probit regression method for the analysis, our findings reveal a positive relationship between school enrolment of children and remittances as expected. Furthermore, the education levels of parents are found to have a significant positive impact on the school enrolment of children. Our results also suggest that households with two or three children are more likely to enrol their children in schools as opposed to households with just one child and those with four or more children. However, household location (urban) and gender of children (male) exhibit a negative impact on enrolment. This study suggests that along with the current incentives provided to migrant workers sending remittances, the government can also implement modified or additional incentives to enhance the enrolment of children from remittance-receiving families. Also, to address the issues of lower enrolment among children from urban areas, male children and households with just one child, policymakers should develop new intervention programmes while sensitising the public on the benefits of acquiring education.

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Lefebvre, Mathieu, and Sergio Perelman. "Public pension wealth and household asset holdings: new evidence from Belgium." Journal of Pension Economics and Finance 19, no. 3 (January 22, 2019): 309–22. http://dx.doi.org/10.1017/s1474747218000409.

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AbstractIt has been long suggested that public pension wealth may crowd out household savings. However, there remains controversy about the extent of this displacement effect. In this paper we use an original microsimulation model based on retrospective survey data collected through the third wave of the Survey of Health, Ageing and Retirement in Europe (SHARE) to estimate the displacement effect of public pension wealth on other wealth in Belgium. Combining this rich dataset with an accurate estimation of the individual pension entitlements allows us to circumvent some of the main measurement error problems faced by previous studies. We estimate that an extra euro of public pension wealth is associated with about 14–25 cent decline in households’ non-pension wealth.

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Creedy, John. "The Effects of an Increase in Petrol Excise Tax: the Case of New Zealand Households." National Institute Economic Review 188 (April 2004): 73–82. http://dx.doi.org/10.1177/00279501041881006.

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This paper reports estimates of the potential welfare effects of hypothetical increases in the petrol excise tax in New Zealand. Equivalent variations, for a range of household types and total expenditure levels, are obtained along with distributional measures. Household demand responses are modelled using the Linear Expenditure System, where parameters vary by total expenditure level and household type. The effects on inequality were found to be negligible, but the marginal excess burdens typically ranged between 35 and 55 cents per dollar of additional revenue.

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Carpenter, Christopher. "New Evidence on Gay and Lesbian Household Incomes." Contemporary Economic Policy 22, no. 1 (January 2004): 78–94. http://dx.doi.org/10.1093/cep/byh007.

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Bonke, Jens, and Martin Browning. "The Allocation of Expenditures within the Household: A New Survey*." Fiscal Studies 30, no. 3-4 (December 2009): 461–81. http://dx.doi.org/10.1111/j.1475-5890.2009.00104.x.

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Kaplan, Greg, and Giovanni L. Violante. "Microeconomic Heterogeneity and Macroeconomic Shocks." Journal of Economic Perspectives 32, no. 3 (August 1, 2018): 167–94. http://dx.doi.org/10.1257/jep.32.3.167.

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In this essay, we discuss the emerging literature in macroeconomics that combines heterogeneous agent models, nominal rigidities, and aggregate shocks. This literature opens the door to the analysis of distributional issues, economic fluctuations, and stabilization policies—all within the same framework. In response to the limitations of the representative agent approach to economic fluctuations, a new framework has emerged that combines key features of heterogeneous agents (HA) and New Keynesian (NK) economies. These HANK models offer a much more accurate representation of household consumption behavior and can generate realistic distributions of income, wealth, and, albeit to a lesser degree, household balance sheets. At the same time, they can accommodate many sources of macroeconomic fluctuations, including those driven by aggregate demand. In sum, they provide a rich theoretical framework for quantitative analysis of the interaction between cross-sectional distributions and aggregate dynamics. In this article, we outline a state-of-the-art version of HANK together with its representative agent counterpart, and convey two broad messages about the role of household heterogeneity for the response of the macroeconomy to aggregate shocks: 1) the similarity between the Representative Agent New Keynesian (RANK) and HANK frameworks depends crucially on the shock being analyzed; and 2) certain important macroeconomic questions concerning economic fluctuations can only be addressed within heterogeneous agent models.

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