Families as Shocks
通过将家庭类型变化建模为类似收入冲击的随机过程,量化了家庭结构变化对储蓄等宏观经济变量的影响,并利用美国数据估计了模型参数。
In this paper we show the quantitative importance of the process that determines changes in family composition to determine the main macroeconomic magnitudes. We do so by modelling family type as a stochastic process that affects households in a way similar to shocks to earnings. Agents respond to these process by optimally choosing savings. We show that the size of savings differs dramatically depending on the details of the stochastic process. The model is quantitative: its fundamental parameters are estimated using U.S. data.