The validity of family background variables instrumenting education in income regressions has been much criticized. In … instruments in income regressions. …

of the time allocation of spouses to illustrate the expected impact of wages and non-labour income. The empirical model … to an increase in their wife's wage. Non-labour income reduces paid work by parents and increases their non-market time …

We analyze general equilibrium relationships between trade policy and the household distribution of income, decomposing … social welfare into real income level and variance components through Gini and Atkinson indexes. We embed these inequality …-adjusted social welfare functions in a general equilibrium structure mapping from tariff protection to household inequality. This …

not work at all, time spent with children, and child-related expenditures, we find that income risk impacts skill … childhood is hard-as available evidence suggests-uninsurable income risk can negatively impact the labor market prospects of …

consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is …We investigate the importance of aggregate and consumer-specific or idiosyncratic labour income risk for aggregate … aggregate labour income shocks and individual risk is modelled as an unobserved component and obtained through Kalman filtering …

This paper tests whether the behaviour of households in different countries is homogeneous with respect to the … influence of religion on income. The violation of the homogeneity assumption would have two consequences. First, results based …-country data in this type of research. Data at household level of the European and World Values Survey are pooled for 25 Western …

We investigate whether US households possess advance information about their future income and what this means for … requires only panel data on consumption and income. Using the Panel Study of Income Dynamics, we find-in contrast to the … incomplete markets model and find that advance information reduces households' income forecast errors by 15%. Our estimation …