FAMILIES AS SHOCKS
成果类型：
Article
署名作者：
Cubeddu, Luis; Rios-Rull, Jose-Victor
署名单位：
International Monetary Fund; University of Pennsylvania; National Bureau of Economic Research
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247603322391305
发表日期：
2003
页码：
671-682
关键词：
摘要：
In this paper we show the quantitative importance of the process that determines changes in family composition to determine the main macroeconomic magnitudes. We do so by modelling family type as a stochastic process that affects households in a way similar to shocks to earnings. Agents respond to these process by optimally choosing savings. We show that the size of savings differs dramatically depending on the details of the stochastic process. The model is quantitative: its fundamental parameters are estimated using U.S. data.
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