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Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY / Hanming Fang, Dan Silverman.
- Format:
- Book
- Author/Creator:
- Fang, Hanming.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w13375.
- NBER working paper series no. w13375
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Time-Inconsistency and Welfare Program Participation
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2007.
- Summary:
- We empirically implement a dynamic structural model of labor supply and welfare program participation for never-married mothers with potentially time-inconsistent preferences. Using panel data on the choices of single women with children from the NLSY 1979, we provide estimates of the degree of time-inconsistency, and of its influence on the welfare take-up decision. With these estimates, we conduct counterfactual experiments to quantify the utility loss stemming from the inability to commit to future decisions, and the potential utility gains from commitment mechanisms such as welfare time limits and work requirements.
- Notes:
- Print version record
- September 2007.
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