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Title: Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY
Resulting in 1 citation.
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Fang, Hanming Silverman, Daniel Susman |
Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY International Economic Review 50,4 (November 2009): 1043-1077. Also: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1495267 Cohort(s): NLSY79 Publisher: Blackwell Publishing, Inc. => Wiley Online Keyword(s): Aid for Families with Dependent Children (AFDC); Labor Supply; Maternal Employment; Parents, Single; Time Inconsistency; Time Preference; Welfare We empirically implement a dynamic structural model of labor supply and welfare program participation for agents with potentially time-inconsistent preferences. Using panel data on the choices of single women with children from the National Longitudinal Surveys (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 a measure of the utility loss stemming from the inability to commit to future decisions, and the potential gains from commitment mechanisms such as welfare time limits and work requirements. |
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Bibliography Citation
Fang, Hanming and Daniel Susman Silverman. "Time-Inconsistency and Welfare Program Participation: Evidence from the NLSY ." International Economic Review 50,4 (November 2009): 1043-1077.
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