International Studies of Economics最新文献

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Fertility decisions and the norm of intergenerational support to aging parents 生育决定和对年迈父母的代际支持规范
4区 经济学
International Studies of Economics Pub Date : 2024-02-09 DOI: 10.1002/ise3.73
Minchung Hsu, Thu Trang Le
{"title":"Fertility decisions and the norm of intergenerational support to aging parents","authors":"Minchung Hsu, Thu Trang Le","doi":"10.1002/ise3.73","DOIUrl":"https://doi.org/10.1002/ise3.73","url":null,"abstract":"This paper examines the impact of the social norm of intergenerational support to aging parents on fertility decisions in developing economies. The traditional expectation of receiving support from adult children in old age has historically been a significant factor in the decision to have children, especially in developing countries. The study develops a life cycle model that endogenizes fertility choices and incorporates the expectation of transfers from children based on the filial responsibility norm. We utilize household survey data from Indonesia to estimate earnings profiles and uncertainties over the life cycle, and to estimate the transfers from adult children to parents to indicate the current strength of the norm in 2000s. We conducted counterfactual experiments to explore the impact of the filial responsibility norm on fertility and found that a weakening of the norm could account for a significant proportion of the decline in the total fertility rate.","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Tests of goods market integration between China and African BRI countries 中国与非洲 "金砖倡议 "国家商品市场一体化测试
4区 经济学
International Studies of Economics Pub Date : 2023-12-28 DOI: 10.1002/ise3.71
Shu-kam Lee, Paul Kwok-ching Shum, Kai-yin Woo
{"title":"Tests of goods market integration between China and African BRI countries","authors":"Shu-kam Lee,&nbsp;Paul Kwok-ching Shum,&nbsp;Kai-yin Woo","doi":"10.1002/ise3.71","DOIUrl":"10.1002/ise3.71","url":null,"abstract":"<p>The Chinese Government has promulgated the “Belt and Road Initiative” (BRI) to increase trade flows and integrate goods markets between China and BRI countries. The validity of purchasing power parity (PPP) implies well-integrated goods markets, a precondition for further economic convergence, and the next stage of economic integration in factor, service, and financial markets. Our study aims to examine the validity of the PPP and the extent of goods market integration between China and selected BRI countries in Africa. Since the functional form of the cointegrating relationship may not be exact or linear, we adopt the nonparametric rank tests for analysis without prior knowledge and specification of the functional form. We also address the rank problems that occur in multivariate rank tests. Our empirical results provide strong evidence of an unrestricted PPP relationship with reasonably strong evidence of nonlinearity in the data. We also find that some African BRI countries have experienced goods market integration with China during the second-half period only. This indicates that the introduction of the BRI in 2013 and China's active involvement in African economic development through BRI projects are leading to enhanced goods market integration between China and Africa. The results indicate favorable prospects of closer economic cooperation in the factor, service, and financial markets to build a free trade area or common markets with BRI countries in Africa.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.71","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139150766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Medical insurance, labor supply, and anti-poverty initiatives: Micro-evidence from China 医疗保险、劳动力供给和扶贫举措:中国的微观证据
4区 经济学
International Studies of Economics Pub Date : 2023-11-01 DOI: 10.1002/ise3.70
Li Su, Mingxiao Sha, Ruixue Liu
{"title":"Medical insurance, labor supply, and anti-poverty initiatives: Micro-evidence from China","authors":"Li Su,&nbsp;Mingxiao Sha,&nbsp;Ruixue Liu","doi":"10.1002/ise3.70","DOIUrl":"10.1002/ise3.70","url":null,"abstract":"<p>The high cost of medical care and its association with poverty have given rise to a growing concern for developing countries, but how insurance plans affect household income and alleviate poverty has been rarely discussed. This study aims to bridge this research gap by examining a medical insurance reform in China, a major program of the targeted poverty alleviation (TPA) strategy, which offers higher reimbursement rates and lower medical deductibles for low-income households. We use an administrative data set on impoverished people in a Chinese county to examine how exogenous changes in the medical insurance system affect the income structure of low-income households. We apply a two-part model to a Difference-in-Differences framework, with households that received reimbursement of the insurance reform as the treatment group and others as the control group. Our results imply that the medical insurance reform could increase the overall household income diversity. The mechanism analysis suggests that the medical insurance reform improves the health conditions of patients and encourages caregivers to engage more in off-farm work.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.70","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135326315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How do subjective mortality beliefs affect the value of social security and the optimal claiming ages? 主观死亡率信念如何影响社会保障的价值和最佳申领年龄?
4区 经济学
International Studies of Economics Pub Date : 2023-10-30 DOI: 10.1002/ise3.69
Tiantian Dai, Wei Sun, Anthony Webb
{"title":"How do subjective mortality beliefs affect the value of social security and the optimal claiming ages?","authors":"Tiantian Dai,&nbsp;Wei Sun,&nbsp;Anthony Webb","doi":"10.1002/ise3.69","DOIUrl":"10.1002/ise3.69","url":null,"abstract":"<p>Households that postpone claiming Social Security benefits are, in effect, making additional purchases of the Social Security annuity and acquiring valuable longevity insurance. This paper investigates the impact of plausible variations of subjective mortality beliefs on the value of delayed claiming and the optimal claiming ages of retired workers. Using the Health and Retirement Study data, we show that older individuals could, on average, predict their life expectancy correctly; however, the average variance of age of death calculated from subjective mortality tables is 6.2%–14.4% lower than that from cohort life tables. Using numerical optimization techniques, we further show that, theoretically, older households place a lower value on delaying claiming when they have greater confidence in their ability to forecast their age of death. But the magnitude of this effect is not large enough to change their optimal claiming ages, unless they hold extreme subjective mortality beliefs. As a result, we conclude that subjective mortality beliefs alone cannot explain the prevalence of early claiming behaviors.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.69","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136068712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Nonparametric estimation of English auctions with selective entry: An application to online judicial auctions 有选择进入的英语拍卖的非参数估计:在线司法拍卖的应用
4区 经济学
International Studies of Economics Pub Date : 2023-10-12 DOI: 10.1002/ise3.68
Nianqing Liu, Kexin Xu
{"title":"Nonparametric estimation of English auctions with selective entry: An application to online judicial auctions","authors":"Nianqing Liu,&nbsp;Kexin Xu","doi":"10.1002/ise3.68","DOIUrl":"10.1002/ise3.68","url":null,"abstract":"<p>This paper proposes an estimation approach following the constructive identification strategy of Athey and Haile, and Gentry and Li with adaption in the context of ascending auctions with selective entry. Our estimators are shown to be consistent in a large sample and to perform well in a finite sample by a simulation study. We apply our estimation approach to the Alibaba online judicial auctions of used cars to recover the bounds of conditional value distribution and the entry cost. The bounds estimates of both conditional value distribution and entry cost are quite tight (resp., relatively wide) for middle-valued (resp., low-valued or high-valued) signal, and the cumulative distribution functions of conditional value distribution given signal comply with the law of ordered dominance. Finally, our counterfactual analysis indicates that (i) the ascending auction yields a higher revenue than the first-price sealed bid auction, and (ii) the revenue can be improved significantly when the entry cost is cut by half.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.68","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135923269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Aging, inadequacy, and fiscal constraint: The case of Thailand 老龄化、不足和财政限制:泰国案例
4区 经济学
International Studies of Economics Pub Date : 2023-09-27 DOI: 10.1002/ise3.66
Phitawat Poonpolkul, Ponpoje Porapakkarm, Nada Wasi
{"title":"Aging, inadequacy, and fiscal constraint: The case of Thailand","authors":"Phitawat Poonpolkul,&nbsp;Ponpoje Porapakkarm,&nbsp;Nada Wasi","doi":"10.1002/ise3.66","DOIUrl":"10.1002/ise3.66","url":null,"abstract":"<p>We use an overlapping generations model to study the challenge in developing countries with a large informal sector and aging population. We use Thailand as a case study and incorporate its labor market structure and its public pension system into the calibrated model. Unlike developed countries, workers in developing countries commonly transit from the formal sector to the informal sector, which can be in the early stage of their working life. This labor market feature crucially limits the coverage of the contributory social security (SS) system. We find that 66% of Thai elderly (aged 60 or over) are ineligible for SS annuity benefits because of an insufficient number of years paying into the SS fund. In addition, we use our model to evaluate two schemes to raise the existing universal basic pension income to the poverty line, namely, uniform benefits and pension-tested benefits. We find that pension-testing effectively improves the targeting efficiency, and nontrivially lowers the cost of the basic pension income program.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.66","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135579715","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Macroeconomic consequences of alternative reforms to the health insurance system in the United States 美国医疗保险制度替代改革的宏观经济后果
4区 经济学
International Studies of Economics Pub Date : 2023-09-17 DOI: 10.1002/ise3.65
Zhigang Feng
{"title":"Macroeconomic consequences of alternative reforms to the health insurance system in the United States","authors":"Zhigang Feng","doi":"10.1002/ise3.65","DOIUrl":"10.1002/ise3.65","url":null,"abstract":"<p>This paper presents a dynamic general equilibrium model designed to examine the macroeconomic effects and welfare implications of alternative reforms to the US health insurance system. Specifically, it scrutinizes the extent to which health care reform can mitigate inefficiencies stemming from market imperfections in the health insurance industry. The model considers a stochastic overlapping generations framework, incorporating heterogeneous agents who are subject to uncertain health shocks. These individuals make optimal decisions regarding labor supply, health insurance, and medical services. Given that the optimal levels of medical consumption and hours worked are endogenous, this setting encapsulates general equilibrium effects. The model is calibrated to US data, and numerical simulations suggest that suitable adjustments to the present health insurance system can broaden coverage and enhance welfare. This improvement is achieved by reducing adverse selection, improving overall health status, and lessening tax distortions on labor supply.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.65","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135259297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Means testing and Social Security in the United States 美国的经济情况调查和社会保障
4区 经济学
International Studies of Economics Pub Date : 2023-09-14 DOI: 10.1002/ise3.67
Shantanu Bagchi
{"title":"Means testing and Social Security in the United States","authors":"Shantanu Bagchi","doi":"10.1002/ise3.67","DOIUrl":"10.1002/ise3.67","url":null,"abstract":"<p>This paper uses a heterogeneous-agent overlapping-generations model to examine the fiscal and distributional consequences of introducing a means test in US Social Security. I find that a means test, that is, conditioning benefit payments on a household's earnings or assets, leads to a higher implicit tax on old-age resources, but has desirable distributional effects. A 75% cut in the benefits to households with earnings of more than 200% of the median leads to a 2.3% reduction in the overall size of Social Security, but has almost no effect on average dollar benefits. In contrast, a fiscally comparable payroll tax cut leads to an across-the-board decline of 2% in the average dollar benefits, despite an increase in capital and labor. A fiscally comparable delay in the benefit eligibility age increases benefits for all, but negatively affects capital and labor. Finally, an asset-based means test causes a decline of 1% in the average dollar benefits, but has a large negative effect on capital and the accidental bequests left behind by deceased households.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.67","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135488342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Intergenerational transfers in China: What are the patterns of the transfers and when do the transfers occur? 中国的代际转移:代际转移的模式是什么?
4区 经济学
International Studies of Economics Pub Date : 2023-08-27 DOI: 10.1002/ise3.61
Jingjing Xu
{"title":"Intergenerational transfers in China: What are the patterns of the transfers and when do the transfers occur?","authors":"Jingjing Xu","doi":"10.1002/ise3.61","DOIUrl":"10.1002/ise3.61","url":null,"abstract":"<p>China's social safety net is still underdeveloped, hence family support in the form of intergenerational transfers often serves as a substitute for the public transfer system. Using data from the China Health and Retirement Longitudinal Study, this paper finds that both upstream inter-vivos transfers (from children to parents) and downstream inter-vivos transfers (from parents to children) are prevalent in urban China. Moreover, the relative income status of the parent and children has an impact on inter-vivos transfers. To investigate what economic factors generate the observed patterns of inter-vivos transfers, this paper adopts a general equilibrium life-cycle model in which overlapping generations are altruistically linked and calibrates the model to match data from urban China. Counterfactual experiments of removing one source of economic risk or modifying the social security replacement rate from the baseline model at a time reveal that intergenerational transfers mainly serve as informal insurance against the income risk of the children.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.61","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89956785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Market or clan: A comparative study of risk sharing institutional evolution in China and Europe 市场还是宗族:中欧风险分担制度演变比较研究
4区 经济学
International Studies of Economics Pub Date : 2023-08-01 DOI: 10.1002/ise3.63
Wenge Zhu
{"title":"Market or clan: A comparative study of risk sharing institutional evolution in China and Europe","authors":"Wenge Zhu","doi":"10.1002/ise3.63","DOIUrl":"10.1002/ise3.63","url":null,"abstract":"<p>In the psychological and sociological framework of risk, we establish a static and dynamic equilibrium model for risk-sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a wide set of research questions concerning why China and Europe relied on different social organizations for risk sharing.</p>","PeriodicalId":29662,"journal":{"name":"International Studies of Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/ise3.63","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86711264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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