Inferring Inequality With Home Production
通过一个包含不可保险风险、不完全资产市场和家庭生产的模型，重新审视家庭劳动市场结果的差异原因、福利后果和政策含义，发现家庭生产放大了福利差异，意味着生活水平不平等比我们想象的更大。
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. Allowing households to be heterogeneous in both their disutility of home work and their home production efficiency, we find that home production amplifies welfare‐based differences, meaning that inequality in standards of living is larger than we thought. We infer significant home production efficiency differences across households because hours working at home do not covary with consumption and wages in the cross section of households. Heterogeneity in home production efficiency is essential for inequality, as home production would not amplify inequality if differences at home only reflected heterogeneity in disutility of work.