Children, Time Allocation, and Consumption Insurance
研究了家庭在面临工资冲击时，如何通过调整消费和夫妻双方在工作、休闲、育儿上的时间分配来平滑边际效用，发现劳动力供给反应取决于休闲互补性、育儿时间替代性和附加劳动者效应三种力量的相互作用。
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.