Endogenous household interaction
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分类依据与纠错
AI 根据所提供的论文材料归类：摘要明确构建家庭互动与参与约束模型，并用模拟矩估计结构参数，直接对应结构估计。
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内生家庭互动
- 研究问题
- 家庭成员面临短期参与约束与长期偏离约束时，帕累托有效的家庭配置是否能够实施，哪些家庭可能无法实现有效结果？
- 方法与思路
- 作者在家庭配置模型中加入以纳什均衡收益为参照的短期与长期约束，使用模拟矩估计和 PSID 单期数据估计模型。
- 材料陈述的贡献
- 摘要称样本中相当比例家庭的两类约束具有约束力，提示家庭配置建模应允许有效结果无法实施的可能性。
- 阅读关注点
- 应核对效用设定、共同贴现因子的处理、模拟矩与参数识别，以及单期观测如何支持长期互动约束的估计。
- 阅读边界
- 仅据所给 RePEc 出版社摘要，约束生效比例、识别条件及稳健性结果未说明；使用一波 PSID 数据不等于面板估计。
原文摘要
Most econometric models of intrahousehold behavior assume that household decision making is efficient, i.e., utility realizations lie on the Pareto frontier. In this paper, we investigate this claim by adding a number of participation constraints to the household allocation problem. Short-run constraints ensure that each spouse obtains a utility level at least equal to what they would realize under (inefficient) Nash equilibrium. Long-run constraints ensure that each spouse obtains a utility level at least equal to what they would realize by cheating on the efficient allocation and receiving Nash equilibrium payoffs in all successive periods. Given household characteristics and the (common) discount factor of the spouses, not all households may be able to attain payoffs on the Pareto frontier. We estimate these models using a Method of Simulated Moments estimator and data from one wave of the Panel Study of Income Dynamics. We find that both short- and long-run constraints are binding for sizable proportions of households in the sample. We conclude that it is important to carefully model the constraint sets household members face when modeling household allocation decisions, and to allow for the possibility that efficient outcomes may not be implementable for some households.