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Does Access to Internet Matter for Insurance Uptake? Evidence From India 互联网接入对保险的吸收有影响吗?来自印度的证据
S. Biswas, Shreya Lahiri
Using the nationally representative Indian Human Development Survey- 2011-12 data, we find that access to internet is related to better risk management practices of Indian households given by higher insurance uptake. Internet access potentially generates twin benefits of improving awareness related to benefits of insurance products and helps in reducing transaction costs for the insurers. The study highlights the role of access to internet in improving development outcomes in India. Further, we find that access to internet increase the insurance uptake of urban households more than rural households and education remains a critical barrier for leveraging the development benefits of internet access. Finally, we find that access to internet is also positively associated with the extent of insurance purchased by the household, highlighting that digital inclusion in the form of internet access could be an instrument that can partially mitigate the common investment mistakes made by households in India.
使用具有全国代表性的印度人类发展调查- 2011-12数据,我们发现互联网接入与印度家庭更好的风险管理实践有关,这是由于更高的保险吸收率。互联网接入可能带来双重好处:提高人们对保险产品好处的认识,并有助于降低保险公司的交易成本。该研究强调了互联网接入在改善印度发展成果方面的作用。此外,我们发现,与农村家庭相比,互联网接入提高了城市家庭的保险覆盖率,而教育仍然是利用互联网接入的发展效益的关键障碍。最后,我们发现互联网接入也与家庭购买保险的程度呈正相关,突出表明互联网接入形式的数字包容可能是一种工具,可以部分减轻印度家庭所犯的常见投资错误。
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引用次数: 0
Impact of COVID-19 pandemic on household consumption pattern of dairy products in India COVID-19大流行对印度家庭乳制品消费模式的影响
G. Bhandari, P. Lal, Binita Kumari
Besides other things, the effect of COVID-19 pandemic is evident in income and consumption pattern of the households. Income loss, fear of infection and movement restrictions has not only altered the amount and pattern of spending but has also changed the shopping behaviour of the consumers. In the case of food commodities, dairy products seem to be more susceptible to such changes owing to their perishability and comparatively higher income elasticity. But, contrary to this expectation, there were speculations that household dairy consumption in India might have increased during lockdown due to more number of meals at home and immunity boosting qualities of milk. Any change in dairy consumption in India has a direct bearing on household nutritional security as it acts as a major source of protein for a large proportion of population. Thus, the present study attempts to capture the impact of COVID-19 pandemic on household consumption pattern of dairy products across geographical regions, household locations and income class on the basis of a pan-India survey covering around 1000 households. The results revealed that there was a significant decline in the household consumption of milk, paneer, butter and ice-cream during lockdown whereas no significant change was observed in the consumption of ghee, curd and buttermilk. The fall in demand was comparatively higher in the urban households, milk deficit zones and among the lowest income class. Moreover, a shift was also observed towards packaged products and online delivery services.
此外,新冠疫情对家庭收入和消费模式的影响也很明显。收入损失、对感染的恐惧和行动限制不仅改变了消费的数量和模式,也改变了消费者的购物行为。就食品商品而言,乳制品由于易腐烂和相对较高的收入弹性,似乎更容易受到这种变化的影响。但是,与这一预期相反,有人猜测,由于在家吃饭的次数增加,以及牛奶的免疫力提高,印度的家庭乳制品消费量可能会增加。在印度,乳制品消费的任何变化都直接关系到家庭营养安全,因为它是很大一部分人口的主要蛋白质来源。因此,本研究试图在覆盖约1000户家庭的泛印度调查的基础上,捕捉COVID-19大流行对跨地理区域、家庭位置和收入阶层的乳制品家庭消费模式的影响。结果显示,在封锁期间,家庭对牛奶、奶酪、黄油和冰淇淋的消费量显著下降,而对酥油、凝乳和酪乳的消费量没有显著变化。城市家庭、牛奶短缺地区和最低收入阶层的需求下降幅度相对较大。此外,还观察到向包装产品和在线配送服务的转变。
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引用次数: 2
Spousal Labor Supply, Caregiving, and the Value of Disability Insurance 配偶劳动供给、照顾与残疾保险的价值
Siha Lee
For married couples, spousal labor supply can act as a household insurance mechanism against one spouse’s earnings shock. This paper evaluates the insurance value of the Social Security Disability Insurance (SSDI) program among married households when wives face a time allocation problem between market hours and spousal care following their husbands’ disability. Using an event study approach, I find that while there is a sizable increase in wives’ working hours after their husbands’ job displacement, wives’ labor supply responses to their husbands’ disability are small, and instead, a considerable amount of time is spent in spousal care. I develop and estimate a dynamic structural model of married households and find that incorporating time loss due to spousal care increases the insurance value of SSDI relative to its costs. Furthermore, policy reforms such as supplementary caregiving benefits can improve social welfare.
对于已婚夫妇来说,配偶劳动力供给可以作为家庭保险机制,防止配偶一方的收入受到冲击。本文对已婚家庭中,当妻子面临丈夫残疾后的市场时间和配偶照顾时间分配问题时,社会保障残疾保险(SSDI)计划的保险价值进行了评估。使用事件研究方法,我发现,虽然丈夫失业后妻子的工作时间有相当大的增加,但妻子对丈夫残疾的劳动供应反应很小,相反,相当多的时间花在照顾配偶上。我开发并估计了一个已婚家庭的动态结构模型,发现将配偶照顾造成的时间损失纳入其中,相对于成本,SSDI的保险价值会增加。此外,诸如补充看护福利等政策改革可以改善社会福利。
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引用次数: 4
Consumer Payment Choice for Bill Payments 帐单付款的消费者付款选择
Pub Date : 2020-06-01 DOI: 10.29412/res.wp.2020.09
C. Greene, J. Stavins
Why do US consumers pay their bills the way they do? Using data from a recent diary of consumer payment behavior, we find that the type of bill consumers are paying and how they are paying (online or automatically) are important factors in determining the payment method, in addition to the dollar value of the bill and the demographic and income profile of the individual who is paying. In contrast, dollar value and demographic attributes are found to be the most important factors determining the payment instrument chosen for purchases. Consumer choices for bill payments are somewhat constrained by requirements imposed by merchants, while the choice of payment instrument for purchases is not constrained by such requirements. The convenience and speed provided by automatic and online payments are not benefitting all US consumers equally. Unbanked consumers lack access to most payment methods and, hence, use cash or prepaid cards to pay their bills. Low-income consumers pay their bills differently from the rest of the sample: They are more likely to pay in person, use significantly more cash, and are less likely to set up automated or online bill payments, regardless of whether they have a bank account. Although consumers specify in the diary which methods they prefer to use to pay their bills, in practice they are not likely to act consistently with their stated preferences. We find that consumers who pay their bills online are less likely to deviate from their preferred payment method, while those who pay their bills automatically are more likely to deviate, after we control for income, demographic attributes, the dollar amount of the bill, and the merchant type. We find no evidence of the salience effect of automatic bill payments that Sexton (2015) finds for energy consumption. Rather, we find that consumers who pay their bills automatically have higher incomes and spend more on bills than lower-income consumers do, but that automatic bill payments are lower in value on average, which is the opposite of the finding by Sexton (2015).
为什么美国消费者会这样支付账单?根据最近一份消费者支付行为日记的数据,我们发现,除了账单的美元价值、个人的人口统计和收入状况外,消费者支付的账单类型和支付方式(在线支付还是自动支付)是决定支付方式的重要因素。相比之下,美元价值和人口统计属性是决定购买支付工具选择的最重要因素。消费者对账单支付的选择在一定程度上受到商家施加的要求的约束,而购买支付工具的选择则不受这些要求的约束。自动支付和在线支付提供的便利和速度并没有平等地惠及所有美国消费者。没有银行账户的消费者无法使用大多数支付方式,因此,他们使用现金或预付卡来支付账单。低收入消费者支付账单的方式与其他样本不同:他们更有可能亲自付款,使用更多的现金,而且不太可能设置自动或在线支付账单,无论他们是否有银行账户。尽管消费者在日记中指明了他们喜欢用哪种方式来支付账单,但实际上他们不太可能按照自己陈述的偏好行事。我们发现,在我们控制了收入、人口统计属性、账单金额和商家类型之后,在线支付账单的消费者不太可能偏离他们首选的支付方式,而自动支付账单的消费者更有可能偏离。我们没有发现Sexton(2015)在能源消耗方面发现的自动账单支付显著效应的证据。相反,我们发现自动支付账单的消费者比低收入消费者收入更高,花费更多,但自动支付账单的平均价值更低,这与塞克斯顿(2015)的发现相反。
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引用次数: 4
Work from Home Before and after the Covid-19 Outbreak 在Covid-19爆发前后在家工作
Alexander Bick, A. Blandin, Karel Mertens
Based on novel survey data, we document a persistent rise in work from home (WFH) over the course of the COVID-19 pandemic. Using theory and direct survey evidence, we argue that three-quarters of this increase reflects the adoption of new work arrangements that will likely be permanent for many workers. A quantitative model matched to survey data predicts that twice as many workers will WFH full-time postpandemic compared to prepandemic, and that one in every five instead of seven workdays will be WFH. These model predictions are consistent with survey evidence on workers’ own expectations about WFH in the future. (JEL I12, I18, J22, M54)
根据新的调查数据,我们记录了在COVID-19大流行期间在家工作(WFH)的持续上升。利用理论和直接调查证据,我们认为,这一增长的四分之三反映了对许多工人来说可能是永久性的新工作安排的采用。与调查数据相匹配的定量模型预测,大流行后全职工作的工人是大流行前的两倍,每五个工作日而不是七个工作日中就有一个工作日是全职工作的。这些模型预测与员工对未来工作满意度的期望的调查证据是一致的。(j12, j18, j22, m54)
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引用次数: 167
Patterns and Drivers of Household Income Dynamics in Russia: The Role of Access to Credit 俄罗斯家庭收入动态的模式和驱动因素:获得信贷的作用
Cristiano Perugini
The microeconomic drivers of medium- and short-term income mobility in Russia over the period 1996–2016 are investigated using data from the Russian Longitudinal Monitoring Survey (RLMS). Focusing on the role of access to credit in triggering household income growth, the descriptive analysis suggests that high levels of mobility materialising in pro-poor patterns of growth may accompany Russia’s notoriously high levels of inequality. Controlling for other personal and household characteristics, the econometric model for drivers of income mobility indicates that access to credit boosts income mobility. Complementary empirical evidence suggests that this effect may unfold through channels related to the labour market and non-labour sources of income.
利用俄罗斯纵向监测调查(RLMS)的数据,研究了1996-2016年期间俄罗斯中期和短期收入流动的微观经济驱动因素。这一描述性分析聚焦于获得信贷在推动家庭收入增长方面的作用,表明在有利于穷人的增长模式中,高水平的流动性可能伴随着俄罗斯臭名昭著的高度不平等。在控制了其他个人和家庭特征后,收入流动性驱动因素的计量经济学模型表明,获得信贷促进了收入流动性。补充的经验证据表明,这种影响可能通过与劳动力市场和非劳动力收入来源相关的渠道展开。
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引用次数: 2
Consumers' Mobility, Expenditure and Online-Offline Substitution Response to COVID-19: Evidence from French Transaction Data 消费者流动性、支出和线上线下替代对COVID-19的响应:来自法国交易数据的证据
D. Bounie, Y. Camara, John W. Galbraith
This paper investigates a number of general phenomena connected with consumer behaviour in response to a severe economic shock, using billions of French card transactions measured before and during the COVID-19 epidemic. We examine changes in consumer mobility, anticipatory behaviour in response to announced restrictions, and the contrasts between the responses of online and traditional point-of-sale (off-line) consumption expenditures to the shock. We track hourly, daily and weekly responses as well as estimating an aggregate fixed-period impact effect via a difference-indifference estimator. The results, particularly at the sectoral level, suggest that recourse to the online shopping option diminished somewhat the overall impact of the shock on consumption expenditure, thereby increasing resiliency of the economy.
本文使用在COVID-19流行之前和期间测量的数十亿笔法国信用卡交易,调查了与应对严重经济冲击的消费者行为相关的一些一般现象。我们研究了消费者流动性的变化,对宣布的限制的预期行为,以及在线和传统销售点(线下)消费支出对冲击的反应之间的对比。我们跟踪每小时、每天和每周的反应,并通过差异无差异估计器估计总固定时期的影响效应。结果,特别是在部门层面上,表明求助于网上购物选项在一定程度上减少了对消费支出冲击的总体影响,从而增加了经济的弹性。
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引用次数: 91
Latent Complementarity in Bundles Models bundle模型中的潜在互补性
R. Allen, John Rehbeck
This paper studies partial identi cation of latent complementarity in an optimizing model with two goods and binary quantities of each good (buy / don't buy). We provide simple bounds on the fraction of individuals for whom goods are complements/substitutes. Despite using only involve marginal choice probabilities, these bounds are sharp with a binary demand shifter. With rich variation in demand shifters, we show how to identify the distribution of latent complementarity using only marginal choice probabilities. Together, these results indicate that mean demands are su cient for measuring complementarity without observing whether goods are chosen together.
本文研究了两种商品和每种商品的二元数量(买/不买)优化模型中潜在互补性的部分辨识问题。我们提供了商品是补充/替代品的个人比例的简单界限。尽管只使用涉及边际选择概率,这些界限是尖锐的二元需求移位。对于需求转移者的丰富变化,我们展示了如何仅使用边际选择概率来识别潜在互补性的分布。总之,这些结果表明,平均需求足以衡量互补性,而无需观察商品是否被一起选择。
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引用次数: 9
Credit Supply Driven Boom-Bust Cycles 信贷供给驱动繁荣-萧条周期
Yavuz Arslan, Bulent Guler, B. Kurusçu
Can shifts in the credit supply generate a boom-bust cycle similar to the one observed in the US around 2008? To answer this question, we develop a general equilibrium model that combines a rich heterogeneous agent overlapping-generations structure of households who make housing tenure decisions and borrow through long-term mortgages, firms that finance their working capital through short-term loans from banks, and banks whose ability to intermediate funds depends on their capital. Using a calibrated version of this framework, we find that shocks to banks’ leverage can generate sizable boom-bust cycles in the housing market, the banking sector, and the rest of the macroeconomy, which provides strong support for the credit supply channel. The deterioration of bank balance sheets during the bust, the existence of highly leveraged households, and the general equilibrium feedback from the credit supply to household labor income significantly amplify the bust. Moreover, mortgage credit growth across the income distribution is consistent with recent findings that were otherwise argued to be against the credit supply channel. A comparison of the model outcomes across credit supply, house price expectation, and productivity shocks suggests that housing busts accompanied by severe banking crises are more likely to be generated by credit supply shocks.
信贷供应的变化是否会产生一个类似于2008年左右美国所观察到的繁荣-萧条周期?为了回答这个问题,我们开发了一个一般均衡模型,该模型结合了一个丰富的异质代理重叠代结构,其中家庭做出住房使用权决定并通过长期抵押贷款借款,公司通过银行的短期贷款为其营运资金融资,银行的中间资金能力取决于其资本。使用该框架的校准版本,我们发现对银行杠杆的冲击可以在房地产市场、银行业和其他宏观经济领域产生相当大的繁荣-萧条周期,这为信贷供应渠道提供了强有力的支持。泡沫破裂期间银行资产负债表的恶化、高杠杆家庭的存在以及信贷供给对家庭劳动收入的一般均衡反馈显著放大了泡沫破裂。此外,整个收入分配的抵押贷款信贷增长与最近的研究结果一致,否则这些研究结果就会被认为不利于信贷供应渠道。比较信贷供应、房价预期和生产率冲击的模型结果表明,伴随着严重银行危机的房地产泡沫破裂更有可能是由信贷供应冲击造成的。
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引用次数: 6
The Reciprocal Relationship Between Unemployment and Social Isolation in Contemporary Japan: A Longitudinal Approach Using the Japanese Life Course Panel Survey 当代日本失业与社会孤立的相互关系:基于日本生命历程小组调查的纵向研究
K. Ishida, J. Wels
Even though Japan has lower unemployment rates than other industrial societies, it has particularly increased for young and middle-aged people over the two last decades. Similarly, social isolation is a problem in Japan and is thought to be a potential cause of unemployment. The present study uses waves 1 (2007), 3 (2009) and 5 (2011) from the Japanese Life Course Panel Survey, a nationally representative data for Japanese people aged 20 to 40. We perform a cross-lagged panel model with and without random intercepts and control a set of socio-economic covariates. Results show that the seeming reciprocal relationship between unemployment and social isolation is spurious after controlling for covariates at an earlier life stage and random intercepts implying between-individual inherent traits. We conclude that it is challenging to overcome the initial social and economic disadvantages in contemporary Japanese society.
尽管日本的失业率低于其他工业社会,但在过去20年里,年轻人和中年人的失业率上升得尤为明显。同样,社会孤立也是日本的一个问题,被认为是失业的潜在原因。本研究使用的波1(2007年)、波3(2009年)和波5(2011年)来自日本生命历程小组调查,这是一项针对20至40岁日本人的全国性代表性数据。我们执行一个有和没有随机截距的交叉滞后面板模型,并控制一组社会经济协变量。结果表明,在控制了早期生活阶段的协变量和暗示个体间固有特征的随机截点后,失业与社会孤立之间看似相互的关系是虚假的。我们的结论是,克服当代日本社会最初的社会和经济劣势是具有挑战性的。
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引用次数: 0
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Econometric Modeling: Microeconometric Models of Household Behavior eJournal
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