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Title: Time vs. Money: Which Resources Matter for Children?
Resulting in 1 citation.
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Price, Joseph P. |
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Time vs. Money: Which Resources Matter for Children? Working Paper, Department of Economics, Brigham Young University, 2007. Cohort(s): Children of the NLSY79 Publisher: Brigham Young University Keyword(s): American Time Use Survey (ATUS); Behavior Problems Index (BPI); Birth Order; Family Resources; Modeling, Fixed Effects; Peabody Individual Achievement Test (PIAT- Math); Peabody Individual Achievement Test (PIAT- Reading); Siblings Permission to reprint the abstract has not been received from the publisher. Parents face a number of decisions that involve a trade-off between the amount of time and money they can provide their children. This paper estimates the relative impact of parental time and family income on child outcomes. Parents generally allocate resources equally among their children at each point in time but the amount of resources available to distribute changes over time. As a result the first-born child gets more parental time while the second child experiences a higher level of family income at each age. Using this within-family variation in resources received by each child, I find that for the average family an hour of quality parent-child quality interaction produces the same amount of reading achievement as $172 of additional family income. Parental time inputs also decrease measures of behavior problems but neither time nor family income appear to influence math achievement. |
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Bibliography Citation
Price, Joseph P. "Time vs. Money: Which Resources Matter for Children?" Working Paper, Department of Economics, Brigham Young University, 2007. |