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