Inferring Inequality with Home Production /
Boerma, Job.
Inferring Inequality with Home Production / Job Boerma, Loukas Karabarbounis. - Cambridge, Mass. National Bureau of Economic Research 2017. - 1 online resource: illustrations (black and white); - NBER working paper series no. w24166 . - Working Paper Series (National Bureau of Economic Research) no. w24166. .
December 2017.
We revisit the causes, welfare consequences, and policy implications of the dispersion in households' labor market outcomes using a model with uninsurable risk, incomplete asset markets, and home production. Accounting for home production amplifies welfare-based differences across households meaning that inequality in standards of living is larger than we thought. Home production does not offset differences that originate in the market sector because hours working at home do not covary with consumption and wages in the cross section of households and there are significant production efficiency differences in the home sector. The optimal tax system should feature more progressivity taking into account home production.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Inferring Inequality with Home Production / Job Boerma, Loukas Karabarbounis. - Cambridge, Mass. National Bureau of Economic Research 2017. - 1 online resource: illustrations (black and white); - NBER working paper series no. w24166 . - Working Paper Series (National Bureau of Economic Research) no. w24166. .
December 2017.
We revisit the causes, welfare consequences, and policy implications of the dispersion in households' labor market outcomes using a model with uninsurable risk, incomplete asset markets, and home production. Accounting for home production amplifies welfare-based differences across households meaning that inequality in standards of living is larger than we thought. Home production does not offset differences that originate in the market sector because hours working at home do not covary with consumption and wages in the cross section of households and there are significant production efficiency differences in the home sector. The optimal tax system should feature more progressivity taking into account home production.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.