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Research Interests: Life Cycle and Saving
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Page 1. Fertility, Female Labor Supply and Public Policy Patricia Apps University of Sydney, Economics Program, RSSS, ANU and IZA, Bonn Ray Rees University of Munich and University of York Discussion Paper No. 409 December 2001 IZA ...
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... What does the broader approach bring, other than perhaps descriptive realism (though the assumption of Pareto efficiency of household allocations may still be found worri-some)? One answer is that the broader analysis is required if... more
... What does the broader approach bring, other than perhaps descriptive realism (though the assumption of Pareto efficiency of household allocations may still be found worri-some)? One answer is that the broader analysis is required if distribu-Page 10. ...
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In a careful and thorough empirical study, Christopher Udry (1996) shows convincingly that, in a large sample of West African households, household resource allocations were not Pareto efficient. This paper argues that observation of the... more
In a careful and thorough empirical study, Christopher Udry (1996) shows convincingly that, in a large sample of West African households, household resource allocations were not Pareto efficient. This paper argues that observation of the Pareto inefficiency of a household ...
Research Interests: Game Theory, Public Economics, Macroeconomics, Anonymity, Browning, and 21 moreHeterogeneity, Information, Rationality, Decentralisation, Land, Welfare, Public Goods, Symmetry, Utility, Nash Equilibrium, Pooling, Income Tax, Division of Labour, S, M, P, N, R, T, A, and Budget Constraints
ABSTRACT
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Historically, there is clear evidence of an inverse relationship between female labour supply and fertility. However, the relationship across countries is now positive. Countries like Germany and Italy, with the lowest fertility, also... more
Historically, there is clear evidence of an inverse relationship between female labour supply and fertility. However, the relationship across countries is now positive. Countries like Germany and Italy, with the lowest fertility, also have the lowest female participation rates. This ...
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This paper is concerned with the question of how couples should be taxed. One reason for the importance of this issue is simply that the overwhelming majority of individuals live in households formed around couples, and so it could be... more
This paper is concerned with the question of how couples should be taxed. One reason for the importance of this issue is simply that the overwhelming majority of individuals live in households formed around couples, and so it could be argued that empirically, this is the single most important problem in personal income taxation. A second reason is that the economic theory of optimal taxation and tax reform, at least as it is presented in the mainstream literature, provides little guidance on this issue, resting as it does on models of the single person household. An old insight in the earlier public finance literature is that any discussion of the taxation of two-person households necessarily involves the recognition of the importance of household production. In this paper we try to show how a simple model of household production can be used to help the analysis of optimal taxation and tax reform, and to put the “conventional wisdom”, which says that it is optimal to tax women on a ...
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This paper analyses the policy implications for health insurance markets of the development of genetic testing. A central issue surrounding this development is whether insurers should be allowed access to the information provided by such... more
This paper analyses the policy implications for health insurance markets of the development of genetic testing. A central issue surrounding this development is whether insurers should be allowed access to the information provided by such tests. The paper first shows that on efficiency grounds alone, insurance buyers should be allowed voluntarily to supply this information to insurers. The source of the considerable opposition to this proposal is really the distributional implications: those with the worst genetic endowments will as a result have to pay the highest insurance premiums. The paper then goes on to analyse possible redistributional policies that can remedy this. In doing so, it makes a significant departure from the mainstream literature on adverse selection in insurance markets, by assuming that individuals have differing income endowments.
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Suppose we take seriously the idea that the model of the household as a single individual is inadequate for many purposes and that it is necessary to develop multi-person household models. The literature on this subject is dominated by... more
Suppose we take seriously the idea that the model of the household as a single individual is inadequate for many purposes and that it is necessary to develop multi-person household models. The literature on this subject is dominated by models that see the household as playing a one-shot cooperative game. For ex- ample, the Nash bargaining models introduced by Manser and Brown (1980) and McElroy and Horney (1981), and further developed by Ott (1992), Lundberg and Pollak (1993) and Chen and Woolley (2001), rest on the assumption that the household members can make binding commitments. Likewise, the "col- lective model" of Browning and Chiappori (1998) assumes that the household maximises a form of utility function that is a weighted sum of the individual utility functions of its members. This, as Samuelson pointed out in his 1956 paper, assumes that the household reaches some sort of consensus that enables the application of the concept of a social welfare function to the mo...
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This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life... more
This paper combines income and expenditure with time use data to provide a unique picture of the time paths of labour supplies, saving and full consumption for two-adult households over the life cycle. These data are used to test the life cycle model presented in the paper, at the core of which is the hypothesis that households face a borrowing interest rate that rises sharply with the amount of non collateral based borrowing. The household members jointly choose time paths of time use, consumption and saving over their life cycle in the face of this capital market imperfection. This model explains the data much better than does the alternative hypothesis of a perfect capital market. Finally, households are shown to differ significantly in their saving behaviour in a way that depends on secondary earner labour supply, with a strong positive association between saving and the secondary earner's income.
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This paper combines income and expenditure with time use data to provide a unique picture of the labor supply, household production, saving and consumption decisions of two-adult households over a life cycle defined in terms of the... more
This paper combines income and expenditure with time use data to provide a unique picture of the labor supply, household production, saving and consumption decisions of two-adult households over a life cycle defined in terms of the presence and ages of children. The study also draws on data for household borrowing and lending, direct and indirect benefits and taxes to
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Tax reform proposals affect individual welfares in ways which strongly depend on the nature of specialisation in household production and the pattern of trade within households. Variation in the degree of specialisation in domestic... more
Tax reform proposals affect individual welfares in ways which strongly depend on the nature of specialisation in household production and the pattern of trade within households. Variation in the degree of specialisation in domestic production across households strongly ...
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ELSEVIER Journal of Public Economics 60 (1996) 199219 JOURNAL OF PUBLIC ECONOMICS Labour supply, household production and intrafamily welfare distribution PF Appsa'b'*, R. Reesc'd aFaculty of Law, University of... more
ELSEVIER Journal of Public Economics 60 (1996) 199219 JOURNAL OF PUBLIC ECONOMICS Labour supply, household production and intrafamily welfare distribution PF Appsa'b'*, R. Reesc'd aFaculty of Law, University of Sydney, 173175 Phillip Street, Sydney, NSW 2000, ...