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The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation : an Analysis with Household Data
Attanasio, Orazio; Guiso, Luigi; Jappelli, Tuillo - 2021
How far can shoe-leather go in explaining the welfare cost of inflation? Using a unique set of microeconomic data on households, we estimate the parameters of the demand for money derived from the generalized Baumol-Tobin model. Our data set contains information on average holdings of cash, on...
Persistent link: https://www.econbiz.de/10013220397
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On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
Hai, Rong; Krueger, Dirk; Postlewaite, Andrew - 2021
changes. We find that (i) the welfare cost of household-level consumption fluctuations may be overstated by 1.7 percentage …
Persistent link: https://www.econbiz.de/10013222945
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School Inputs, Household Substitution, and Test Scores
Das, Jishnu - 2011
households will respond to changes in school inputs. We present a dynamic household optimization model relating test scores to … school and household inputs, and test its predictions in two very different low-income country settings - Zambia and India …. We measure household spending changes and student test score gains in response to unanticipated as well as anticipated …
Persistent link: https://www.econbiz.de/10013129026
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Extended Families and Child Well-Being
LaFave, Daniel - 2014
Whereas studies have established the intra-household distribution of resources affects allocation decisions, little is …
Persistent link: https://www.econbiz.de/10013043609
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Intrahousehold Resource Allocation in Cote D'Ivoire : Social Norms, Separate Accounts and Consumption Choices
Duflo, Esther; Udry, Christopher - 2021
composition of household expenditure is sensitive to the gender of the recipient of a rainfall shock. For example, rainfall shocks …
Persistent link: https://www.econbiz.de/10013242938
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Welfare Costs of Long-Run Temperature Shifts
Bansal, Ravi - 2011
This article makes a contribution towards understanding the impact of temperature fluctuations on the economy and financial markets. We present a long-run risks model with temperature related natural disasters. The model simultaneously matches observed temperature and consumption growth...
Persistent link: https://www.econbiz.de/10013118836
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The Effects of Fiscal Consolidations : Theory and Evidence
Alesina, Alberto F. - 2017
We investigate the macroeconomic effects of fiscal consolidations based upon government spending cuts, transfers cuts and tax hikes. We extend a narrative dataset of fiscal consolidations, with details on over 3500 measures for 16 OECD countries. We show that government spending cuts and cuts in...
Persistent link: https://www.econbiz.de/10012956924
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Using Asset Prices to Measure the Cost of Business Cycles
Alvarez, Fernando - 2010
We propose a method to measure the welfare cost of economic fluctuations that does not require full specification of consumer preferences and instead uses asset prices. The method is based on the marginal cost of consumption fluctuations, the per unit benefit of a marginal reduction in...
Persistent link: https://www.econbiz.de/10012763274
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Panel Data Hedonics : Rosen's First Stage as a "Sufficient Statistic"
Banzhaf, H. Spencer - 2015
characteristics, but face endogeneity problems for estimating non-marginal welfare measures. I show that when panel data on household …
Persistent link: https://www.econbiz.de/10013017083
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Good Rankings are Bad : Why Reliable Rankings Can Hurt Consumers
Bouton, Laurent - 2015
Rankings have become increasingly popular on various markets, e.g. the market for study programs. We analyze their welfare implications. Consumers have to choose between two goods of unknown quality with exogenous presence or absence of an unbiased informative ranking. The existence of the...
Persistent link: https://www.econbiz.de/10013024517