Jørgensen, Thomas Høgholm - In: Quantitative Economics 7 (2016) 3, pp. 935-968
children on the marginal utility of consumption. I estimate these bounds using the Panel Study of Income Dynamics and find that … consumption behavior, produce biased estimates of the effect of children on the marginal utility of consumption if consumers face … conventional estimators yield point estimates that are above the upper bound. Children might, thus, not increase the marginal …