Parental preferences,production technologies,and provision for progeny |
| |
| Affiliation: | 1. Department of Public Finance, School of Economics, Wang Yanan Institute for Studies in Economics, MOE Key Laboratory of Econometrics, and Fujian Key Laboratory of Statistical Science, Xiamen University, Xiamen 361005, Fujian, China;2. Department of Economics, Faculty of Arts & Social Sciences, National University of Singapore, AS2 Level 6, 1 Arts Link, Singapore 117570, Singapore;1. University of Massachusetts Amherst, 80 Campus Center Way, Amherst, MA 01003, United States;2. Colorado College, 14 E. Cache La Poudre St., Colorado Springs, CO 80903, United States;1. ICREA Research Professor, Universitat Pompeu Fabra, Barcelona IPEG, Barcelona GSE, Spain; New Economic School, Russia;2. Professor of Economics and Political Science, and Gorter Family Professor of Islamic Studies, Duke University, USA;3. Research Scholar, Stanford Center for International Development, Stanford Institute for Economic Policy Research, Stanford University, USA;1. University of Warwick, UK;2. University of Namur, Belgium;3. Montpellier Business School, France;1. University of Surrey, Guildford GU2 7XH, United Kingdom;2. University of Kent, United Kingdom |
| |
| Abstract: | This paper theoretically explores the implications of the recent developments in the study of human capital production technologies (Cunha and Heckman, 2007) in intrahousehold human capital investment in children (Becker and Tomes, 1976; Behrman et al., 1982). When credit constraints are not binding, parents adopt a reinforcing intrahousehold investment strategy. When credit constraints are binding, the trade-off between the degree of parental aversion to inequality and the degree of complementarity between pre-natal endowments and family investments determines the parental strategy. The observed investment pattern of reinforcement or compensation does not necessarily reveal the underlying preference or technological parameters. Finally, we discuss empirical methods that may separately identify the preference and technological parameters and discuss the econometric challenges associated with these methods. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
