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首页> 外文OA文献 >Commitment in the Household: Evidence from the Effect of Inheritances on the Labor Supply of Older Married Couples
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Commitment in the Household: Evidence from the Effect of Inheritances on the Labor Supply of Older Married Couples

机译：家庭承诺：来自遗产对老年已婚夫妇劳动供给影响的证据

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We study the effect of receiving an inheritance on the labor force participation (LFP) of both the recipient and the recipient's spouse in a population of older married couples. An inheritance is not subject to laws governing division of marital property at divorce, because it is not acquired with income earned during marriage. Hence it plays the role of a "distribution factor" in the intrahousehold allocation of resources, increasing bargaining power of the recipient. Controlling for inheritance expectations, we interpret the receipt of an inheritance as a shock to wealth. Our results indicate that receiving an inheritance reduces LFP of the recipient by four percentage points, comparable in magnitude to the effect of a decline in health. However, an inheritance has little or no effect on LFP of the spouse. These estimates are inconsistent with a dynamic, collective model of the household in which spouses have the ability to commit to an ex ante efficient allocation. The results are consistent with a model of limited commitment in which a shock to household resources can alter bargaining power. We discuss the implications for reform of Social Security spouse and survivor benefits.
机译：我们研究了在年长夫妇中，继承对接收者和接收者的配偶双方劳动参与率的影响。继承不受离婚时婚姻财产分割的法律管辖，因为继承不是通过结婚时获得的收入来获得的。因此，它在家庭内部资源分配中起“分配因子”的作用，增加了接收者的议价能力。控制继承期望后，我们将继承的接受解释为对财富的冲击。我们的结果表明，获得遗传可以使接受者的LFP降低四个百分点，其大小与健康下降的影响相当。但是，继承对配偶的LFP几乎没有影响。这些估计数与家庭的动态集体模型不一致，在这种模型中，配偶有能力事前进行有效分配。结果与有限承诺模型一致，在这种模型中，对家庭资源的冲击会改变议价能力。我们讨论了社会保障配偶和遗属津贴改革的意义。

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