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Source: Cowles Foundation for Research and Economics, Yale University
Resulting in 2 citations.
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Belzil, Christian Hansen, Jörgen |
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Intergenerational Transfers and the Rate of Time Preference in a Dynamic Model of Schooling Decisions Presented: New Haven, CT, Yale University, Cowles Conference on the Econometrics of Strategy and Decision Making, May 2000 Cohort(s): NLSY79 Publisher: Cowles Foundation for Research and Economics, Yale University Keyword(s): Armed Forces Qualifications Test (AFQT); Educational Attainment; Educational Returns; Intergenerational Patterns/Transmission; Schooling; Time Preference; Transfers, Family Permission to reprint the abstract has not been received from the publisher. The main objective of the present paper is to estimate a structural model of schooling decisions in which the separate effects of subjective discount rates, labor market ability and intergenerational transfers on schooling attainments can be identified and which can be used to evaluate the relative importance of discount rate heterogeneity and family background variables. The model, which is estimated in the present paper, is similar to the one discussed in Belzil and Hansen (2000 - Subective Discount Rate, Intergenerational Transfers and the Return of Schooling). |
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Bibliography Citation
Belzil, Christian and Jörgen Hansen. "Intergenerational Transfers and the Rate of Time Preference in a Dynamic Model of Schooling Decisions." Presented: New Haven, CT, Yale University, Cowles Conference on the Econometrics of Strategy and Decision Making, May 2000. |
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Fang, Hanming Silverman, Daniel Susman |
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Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY Cowles Foundation Discussion Paper No. 1465, Cowles Foundation for Research in Economics, Yale University, July 2005. Cohort(s): NLSY79 Publisher: Cowles Foundation for Research and Economics, Yale University Keyword(s): Aid for Families with Dependent Children (AFDC); Labor Supply; Maternal Employment; Time Inconsistency; Time Preference; Welfare Permission to reprint the abstract has not been received from the publisher. We empirically implement a dynamic structural model of labor supply and welfare program participation for agents with potentially time-inconsistent preferences. Using panel data on the choices of single women with children from the NLSY 1979, we provide estimates of the degree of time-inconsistency, and of its influence on the welfare take-up decision. With these estimates, we conduct counterfactual experiments to quantify the utility loss stemming from the inability to commit to future decisions, and the potential utility gains from commitment mechanisms such as welfare time limits and work requirements. |
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Bibliography Citation
Fang, Hanming and Daniel Susman Silverman. "Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY." Cowles Foundation Discussion Paper No. 1465, Cowles Foundation for Research in Economics, Yale University, July 2005. |