Found 2 article(s) for author 'families'

Birds of a Feather: Estimating the Value of Statistical Life from Dual-Earner Families

Birds of a Feather: Estimating the Value of Statistical Life from Dual-Earner Families. Joseph Aldy, March 2019, Paper, “Economists have long employed hedonic wage analysis to estimate income-fatality risk trade-offs, but some scholars have raised concerns about systematic measurement error and omitted variable bias in the empirical applications of this model. Recent studies have employed panel methods to remove time-invariant individual-specific characteristics that could induce bias in estimation. In an analogous manner, this paper proposes to exploit assortative matching on risk attitudes within married couples to control for worker characteristics that are unobserved to the econometrician. I develop and implement a modified hedonic wage estimator based on a within-coupled differenced wage equation for full-time working married couples with the Current Population Survey Merged Outgoing Rotation Group over 1996-2002. The key assumption builds on the findings in the assortative matching literature that individuals often marry those who have common traits across many dimensions, including those that may influence worker wages and are correlated with observed occupational fatality risks.Link

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The Concentration of Wealth within Family Lineages and Intergenerational Transfers

The Concentration of Wealth within Family Lineages and Intergenerational Transfers. Alexandra Killewald, 2016, Paper, “Compared to income and earnings, wealth in the United States is substantially more unequally distributed (Budría Rodríguez et al. 2002; Scholz and Levine 2004). Access to wealth is in turn associated with a wide range of outcomes, including longevity, family formation, and the educational achievement and labor market outcomes of offspring (Attanasio and Emmerson 2003; Charles, Hurst, and Killewald 2013; Conley 1999, 2001; Pfeffer 2011; Bond Huie et al. 2003; Orr 2003; Schneider 2011). Furthermore, these associations are not fully explained by standard measures of socioeconomic advantage, such as income or education. The wealth distribution is thus an important measure of the concentration of social inequality and advantage.Link

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