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Titel
Children, time allocation and consumption insurance / Richard Blundell (University College London, Institute for Fiscal Studies and IZA), Luigi Pistaferri (Stanford University and IZA), Itay Saporta-Eksten (The Eitan Berglas School of Economics, University College London and IZA) ; IZA Institute of Labor Economics
VerfasserBlundell, Richard W. In der Gemeinsamen Normdatei der DNB nachschlagen ; Pistaferri, Luigi In der Gemeinsamen Normdatei der DNB nachschlagen ; Saporta-Eksten, Itay In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, December 2017
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Elektronische Ressource
Umfang1 Online-Ressource (48 Seiten) : Diagramme
SerieDiscussion paper ; no. 11237
URNurn:nbn:de:hbz:5:2-146166 Persistent Identifier (URN)
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Children, time allocation and consumption insurance [0.33 mb]
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Zusammenfassung

We consider the life cycle choices of a household that in each period decides how much to consume and how to allocate spouses time to work, leisure, and childcare. In an environment with uncertainty, the allocation of goods and time over the life cycle also serves the purpose of smoothing marginal utility in response to shocks. We combine data on consumption, spouses' wages, hours of work, and time spent with children to estimate the sensitivity of consumption and time allocation to transitory and permanent wage shocks. These structural parameters describe the ability of household to self-insure in response to shocks. We find that behavioral responses to wage shocks depend on the presence of young children. We also find that labor supply cross-responses depend on three counteracting forces: complementarity of leisure time, substitutability of time in the production of child services, and added worker effects.