Commitment and the Dynamics of Household Labour Supply

• 成果类型: Article
• 署名作者: Theloudis, Alexandros; Velilla, Jorge; Chiappori, Pierre-Andre; Gimenez-Nadal, Jose Ignacio; Molina, Jose Alberto
• 署名单位: Tilburg University; University of Zaragoza; Columbia University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1093/ej/ueae065
• 发表日期: 2024
• 页码: 354-386
• 关键词: intertemporal behavior; implicit contracts; marriage market; business-cycle; insurance; consumption; RISK; INEQUALITY; ECONOMICS; earnings

摘要

The extent to which individuals commit to their partner for life has important implications. This paper develops a life-cycle collective model of the household, through which it characterises behaviour in three prominent alternative types of commitment: full, limited and no commitment. We propose a test that distinguishes between all three types based on how contemporaneous and historical news affect household behaviour. Our test permits heterogeneity in the degree of commitment across households. Using recent data from the Panel Study of Income Dynamics, we reject full and no commitment, while we find strong evidence for limited commitment.