Università di Torino
Dipartimento di Scienze Economico-Sociali
Information about this author at RePEc
NBER Working Papers and Publications
|October 2017||Marriage-Related Policies in an Estimated Life-Cycle Model of Households' Labor Supply and Savings for Two Cohorts|
with Mariacristina De Nardi, Fang Yang: w23972
In the U.S., both taxes and old age Social Security benefits explicitly depend on one's marital status. We study the effects of eliminating these marriage-related provisions on the labor supply and savings of two different cohorts. To do so, we estimate a rich life-cycle model of couples and singles using the Method of Simulated Moments (MSM) on the 1945 and 1955 birth-year cohorts. Our model matches well the life cycle profiles of labor market participation, hours, and savings for married and single people and generates plausible elasticities of labor supply. We find that these marriage-related provisions reduce the participation of married women over their life cycle, the participation of married men after age 55, and the savings of couples. These effects are large for both the 1945 and...
|November 2016||The Aggregate Implications of Gender and Marriage|
with Mariacristina De Nardi, Fang Yang: w22817
Wages, labor market participation, hours worked, and savings differ by gender and marital status. In addition, women and married people make up for a large fraction of the population and of labor market participants, total hours worked, and total earnings. For the most part, macroeconomists have been ignoring women and marriage in setting up structural models and by calibrating them using data on males only. In this paper we ask whether ignoring gender and marriage in both models and data implies that the resulting calibration matches well the key economic aggregates. We find that it does not and we ask whether there are other calibration strategies or relatively simple models of marriage that can improve the fit of the model to aggregate data.
Published: Margherita Borella & Mariacristina De Nardi & Fang Yang, 2017. "The aggregate implications of gender and marriage," The Journal of the Economics of Ageing, .
|January 2016||Who Receives Medicaid in Old Age? Rules and Reality|
with Mariacristina De Nardi, Eric French: w21873
Medicaid is a government program that provides health insurance to the old who are sick and have little assets and income compared to their medical needs. Thus, it explicitly tests for income, assets, and health or medical needs to determine eligibility. We ask how these rules map into the reality of Medicaid recipiency and what observable characteristics are important to determine who ends up on Medicaid. The data show that both singles and couples with high retirement income can end up on Medicaid at very advanced ages. We find that, conditioning on a large number of observable characteristics, including those that directly relate to Medicaid eligibility criteria, single women are more likely to end up on Medicaid. So are non-whites, but, surprisingly, their higher recipiency is concentr...
Published: Margherita Borella & Mariacristina De Nardi & Eric French, 2017. "Who Receives Medicaid in Old Age? Rules and Reality," Fiscal Studies, .
|August 2006||Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data |
with Orazio Attanasio: w12456
In this paper we propose a method to characterize the time series properties of individual consumption, income and interest rates using micro data, as studies in labour economics have characterized the time series properties of hours and earnings. Our approach, however, does not remove aggregate shocks. Having estimated the parameters of a flexible multivariate MA representation we relate the coefficients of our statistical model to structural parameters of theoretical models of consumption behaviour. Our approach offers a unifying framework that encompasses the Euler equation approach to the study of consumption and the studies that relate innovations to income to innovations to consumption, such as those that have found the so-called excess smoothness of consumption. Using a long time se...