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See detailEvaluating How Child Allowances and Daycare Subsidies Affect Fertility
Goldstein, Joshua R.; Koulovatianos, Christos UL; Li, Jian UL et al

E-print/Working paper (2017)

We compare the cost effectiveness of two pronatalist policies: (a) child allowances; and (b) daycare subsidies. We pay special attention to estimating how intended fertility (fertility before children are ... [more ▼]

We compare the cost effectiveness of two pronatalist policies: (a) child allowances; and (b) daycare subsidies. We pay special attention to estimating how intended fertility (fertility before children are born) responds to these policies. We use two evaluation tools: (i) a dynamic model on fertility, labor supply, outsourced childcare time, parental time, asset accumulation and consumption; and (ii) randomized vignette-survey policy experiments. We implement both tools in the United States and Germany, finding consistent evidence that daycare subsidies are more cost effective. Nevertheless, the required public expenditure to increase fertility to the replacement level might be viewed as prohibitively high. [less ▲]

Detailed reference viewed: 73 (5 UL)
See detailRisk Taking, Religiosity and Denomination Heterogeneity
Li, Jian UL

Presentation (2015, June)

Detailed reference viewed: 59 (3 UL)
See detailRisk Taking , Religiosity and Denomination Heterogeneity
Li, Jian UL

Presentation (2014, December 04)

In this paper, I have merged the European Social Survey, World Values Survey and Eurostat (European Statistics Information) into SHARE (Survey of Health, Aging and Retirement in Europe) by regional ... [more ▼]

In this paper, I have merged the European Social Survey, World Values Survey and Eurostat (European Statistics Information) into SHARE (Survey of Health, Aging and Retirement in Europe) by regional geographical cell (NUTS2). By using this specific merged data set, I have evaluated the effect of household level religiosity and regional denomination heterogeneity (Catholic/Protestant ratio) on household risk preference. The finding is as follows : the higher the level of religious belief the lower the risk-taking incentive the households have; however, for regional denomination heterogeneity, the higher the regional Catholic/Protestant ratio, the more popular the local risk-taking incentive prevails. [less ▲]

Detailed reference viewed: 97 (19 UL)
See detailFitting Parsimonious Household Portfolio models to Data
Hubar, Sylwia; Koulovatianos, Christos UL; Li, Jian UL

Presentation (2014, September 30)

Detailed reference viewed: 111 (14 UL)
See detailFitting Parsimonious Household Portfolio models to Data
hubar, Sylwia; Koulovatianos, Christos UL; Li, Jian UL

Presentation (2014)

Detailed reference viewed: 122 (16 UL)
Full Text
See detailAnalytical Guidance for Fitting Parsimonious Household-Portfolio Models to Data
Hubar, Sylwia; Koulovatianos, Christos UL; Li, Jian UL

E-print/Working paper (2013)

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility ... [more ▼]

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility function is up to a quantitative explanation, in the context of stan- dardized parsimonious household-portfolio models with risky income. Closed forms in a sim- plified version of the model, with insurable labor-income risk and no liquidity constraints, reveal that if, (i) risky-asset returns are weakly correlated and, (ii) household resources are expected to grow over time, then poorer households can afford exiting subsistence concerns slowly by saving less and by taking less risk, while holding balanced portfolios. [less ▲]

Detailed reference viewed: 54 (14 UL)