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Children, Time Allocation, and Consumption Insurance

Blundell, R; Pistaferri, L; Saporta-Eksten, I; (2018) Children, Time Allocation, and Consumption Insurance. Journal of Political Economy , 126 (S1) S73-S115. 10.1086/698752.

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Abstract

We study choices of households deciding on consumption and allocation of spouses’ time to work, leisure, and child care. With uncertainty, the allocation of goods and time over the life cycle also serves the purpose of smoothing marginal utility in response to shocks. Combining data on consumption, wages, hours of work, and time spent with children, we compute the sensitivity of consumption and time allocation to transitory and permanent wage shocks. We find that family labor supply responses depend on three counteracting forces: complementarity of leisure time, substitutability of time in the production of child services, and added worker effects.

Type: Article
Title: Children, Time Allocation, and Consumption Insurance
DOI: 10.1086/698752
Publisher version: http://dx.doi.org/10.1086/698752
Language: English
Additional information: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/10058605
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