This paper studies within-family decision making regarding investment in income protection for surviving spouses. A change in US pension law (the Retirement Equity Act of 1984) is used as an instrument to derive predictions both from a simple Nash-bargaining model of the household and from the...

This paper studies within-family decision making regarding investment in income protection for surviving spouses. A change in US pension law (the Retirement Equity Act of 1984) is used as an instrument to derive predictions both from a simple Nash-bargaining model of the household and from the...

According to Pareto (1896), the distribution of income depends on "the nature of the people comprising a society, on the organization of the latter, and, also, in part, on chance." In the model developed here the "nature of the people" is captured by attitudes toward marriage, divorce,...

The demographic change underway, declining adequacy levels from traditional pay-as-you-go old-age social security systems, structural reforms in pension schemes and the reduction in the traditional family support have increased the need for additional private savings to cover the old age income...

We consider the nexus of intra-household transfers, the sex composition of the sibship, and parental retirement behavior in Korea. We provide evidence that the cost of raising sons is higher than it is for daughters in Korea. Thus, in the absence of sufficient transfers from adult sons to...

The leading evidence against the unitary household models is that who gets what is significantly dependent upon who earns how much. However, it is difficult to pin down the causal effect of relative earnings on intra-household resource allocation because households jointly decide both labor...

We construct a new, direct measure of female autonomy in household decision-making by creating an index from the principal components of a variety of household variables on which mother of a child takes decision. We then examine its impacts on her child's secondary education in Mexico and find...

An important paper by Chiappori et al. (2012) has proposed an elegant and parsimonious model of spousal matching over multi-dimensional characteristics. Importantly, the model suggests specific testable assumptions that allow researchers to uncover marginal rates of substitution (MRS) between...