Child Benefit Payments and Household Wealth Accumulation

Preprint OPEN
Melvin Stephens Jr. ; Takashi Unayama (2014)
  • Subject: Household Consumption; Life Cycle Permanent Income Hypothesis
    • jel: jel:E21 | jel:D12
    mesheuropmc: health care economics and organizations

Using the life-cycle/permanent income hypothesis, we theoretically and empirically assess the impact of child benefit payments on household wealth accumulation. Consistent with the predictions of the model, we find that higher cumulative benefits received increase curre... View more
  • References (9)

    Barro, Robert J. (1974) “Are Government Bonds Net Wealth?" Journal of Political Economy, Vol.

    82, No. 6, pp.1095-1117.

    Browning, Martin and Thomas F. Crossley (2001) “The Life-Cycle Model of Consumption and Saving," Journal of Economic Perspectives, Vol. 15, No. 3, pp.3-22.

    Carroll, Christopher D. (1997) “Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis," The Quarterly Journal of Economics, Vol. 112, No. 1, pp. 1-55.

    Campbell, John Y. (1987) “Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis," Econometrica, Vol. 55, No. 6, pp.1249-1273.

    Cohen, Alma, Rajeev Dehejia, and Dmitri Romanov (2013) “Financial Incentives and Fertility," The Review of Economics and Statistics, Vol. 95, No. 1, pp. 1-20.

    González, Libertad (2013) “The Effect of a Universal Child Benefit on Conceptions, Abortions, and Early Maternal Labor Supply," American Economic Journal: Economic Policy, Vol. 5, No. 3, pp.

    Japelli, Tulio and Luigi Pistaferri (2010) “The Consumption Response to Income Changes," Annual Review of Economics, Vol. 2, No. 1, pp. 479-506.

    * r * ) * ) 3 m o , ()6 .54* .025 0* .17 .67 41 ,62 lcou frs em ten 0 ( .60 (0 0 32 ll tao th rce - r e m e sn th i h x

  • Metrics
    No metrics available
Share - Bookmark