Author: Gilbert R. GhezPublisher:
ISBN: 9780598172938
Category : Consumers
Languages : en
Pages : 172
Book Description
The Allocation of Time and Goods Over the Life Cycle
Author: Gilbert R. GhezPublisher:
ISBN: 9780598172938
Category : Consumers
Languages : en
Pages : 172
Book Description
The Allocation of Time and Goods Over the Life Cycle
Author: Gilbert R. GhezPublisher: Columbia University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 188
Book Description
There is a belief now that family behavior over the life cycle can be analyzed by economic methods. This study deals with allocation of resources by families over time.
The Allocation of Time and Goods Over the Life Cycle
Author: Gilbert R. GhezPublisher: Columbia University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 180
Book Description
There is a belief now that family behavior over the life cycle can be analyzed by economic methods. This study deals with allocation of resources by families over time.
The Allocation of Goods and Time Over the Business Cycle
Author: Jeremy GreenwoodPublisher:
ISBN:
Category : Households
Languages : en
Pages : 52
Book Description
Education, Income, and Human Behavior
Author: Francis T. JusterPublisher:
ISBN: 9780608185552
Category : College graduates
Languages : en
Pages : 466
Book Description
Economics of the Family
Author: Martin BrowningPublisher: Cambridge University Press
ISBN: 1107728924
Category : Business & Economics
Languages : en
Pages : 511
Book Description
The family is a complex decision unit in which partners with potentially different objectives make consumption, work and fertility decisions. Couples marry and divorce partly based on their ability to coordinate these activities, which in turn depends on how well they are matched. This book provides a comprehensive, modern and self-contained account of the research in the growing area of family economics. The first half of the book develops several alternative models of family decision making. Particular attention is paid to the collective model and its testable implications. The second half discusses household formation and dissolution and who marries whom. Matching models with and without frictions are analyzed and the important role of within-family transfers is explained. The implications for marriage, divorce and fertility are discussed. The book is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.
The Behavioral and Social Sciences
Author: National Research CouncilPublisher: National Academies Press
ISBN: 0309037492
Category : Science
Languages : en
Pages : 301
Book Description
This volume explores the scientific frontiers and leading edges of research across the fields of anthropology, economics, political science, psychology, sociology, history, business, education, geography, law, and psychiatry, as well as the newer, more specialized areas of artificial intelligence, child development, cognitive science, communications, demography, linguistics, and management and decision science. It includes recommendations concerning new resources, facilities, and programs that may be needed over the next several years to ensure rapid progress and provide a high level of returns to basic research.
Guidelines for Social Life Cycle Assessment of Products
Author: United Nations Environment ProgrammePublisher: UNEP/Earthprint
ISBN: 9789280730210
Category : Business & Economics
Languages : en
Pages : 104
Book Description
The Guidelines for Social Life Cycle Assessment of Products provides a map, a skeleton and a flash light for stakeholders engaging in the assessment of social and socio-economic impacts of products life cycle. The map describes the context, the key concepts, the broader field in which tools and techniques are getting developed and their scope of application. The skeleton presents key elements to consider and provide guidance for the goal and scope, inventory, impact assessment and interpretation phases of a social life cycle assessment. The flash light highlights areas where further research is needed. Social Life Cycle Assessment is a technique available to account for stories and inform systematically on impacts that otherwise would be lost in the vast and fast moving sea of our modern world. May it help stakeholders to effectively and efficiently engage to improve social and socio-economic conditions of production and consumption
Time Is, Time Was
Author: Daniel ShaviroPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
What time periods should we use in tax and other fiscal policy to evaluate people's circumstances, and thus to determine either how they are being treated, or how they ought to be? This question is both fundamental and pervasive.Standard economic reasoning offers grounds for entirely basing one's thinking on lifetime models. In particular, the closely related permanent income and life cycle hypotheses support employing a purely lifetime perspective in evaluating people's circumstances and treatment. The resulting model posits that people make decisions on a lifetime basis, seeking to optimize lifetime utility in the face of both (1) period-specific declining marginal utility of consumption, and (2) whatever preferences they happen to have as between consumption in different periods. Accordingly, in the presence of complete markets (including a lack of borrowing constraints), the question of when one earns a given dollar ostensibly makes no difference regarding when one spends it on consumption. And equivalently, when one pays a given dollar of tax will make no difference regarding how much one spends in any period.This model applies the same basic logic as a two-goods model in an Economics 101 casebook (featuring, say, pizza and movies), but in a far more complex setting in which its application is considerably more challenging. Despite its ruthless simplification, it likely has some degree of descriptive accuracy. People surely do make some plans across very long time horizons, such as early-life career choice, and subsequent planning (however imperfect it may be) for retirement.Yet the factors that undermine life cycle view's accuracy and normative relevance are not limited to borrowing constraints. Also of crucial importance are people's tendency to treat different periods as effectively separate, and a number of other constraints that would prevent them (even if so minded) from equalizing the marginal utility of consumption as between periods.In sum, therefore, the life cycle model is not sufficiently descriptively accurate to be treated as more than an important orienting benchmark. Like such other “it doesn't matter” theories as the Coase Theorem, the Efficient Markets Hypothesis, and the Modigliani-Miller Theorem, its value lies more in its showing us where to look for falsifying conditions, than in its actual empirical validity.
Consumption Over the Life Cycle and Over the Business Cycle
Author: Orazio P. AttanasioPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 54
Book Description
The main aim of this paper is to assess the validity of the life cycle model of consumption. In particular, we address an issue that has recently received much attention, especially in the macroeconomic literature: that of "excess sensitivity" of consumption growth to income growth. We do this using a time series of cross sections and a novel and flexible parameterization of preferences. The former allows us to' address aggregation issues directly, while with the latter we can allow both the discount factor and the elasticity of intertemporal substitution eis to be affected by various observable variables and lifetime wealth. The main findings can be summarized as follows: (i) the excess sensitivity of consumption growth to labor income disappears when we control for demographic variables. This is true both at life cycle and business cycle frequencies. (ii) estimation of a flexible specification of preferences indicates that the elasticity of intertemporal substitution is a function of several variables, including the level of consumption. The eis increases with the level of consumption, as expected. (iii) the variables that change the eis are also important in explaining why we observe excess sensitivity over the business cycle. (iv) we are able to reconcile our results with those reported both in the macro and micro literature. (v) in our specification the elasticity of intertemporal substitution is not very well determined. This result, however, should be taken with care, as we have not made an effort to construct a 'preferred' specification, which would probably include additional controls for labor supply behavior. The evidence presented shows that the life cycle model cannot be easily dismissed. Indeed, we believe that the model does a good job at representing consumption behavior both over the life cycle and over the business cycle.