Digitala Vetenskapliga Arkivet

Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Essays on Home Production, Mobility, and Monetary Policy
Stockholm University, Faculty of Social Sciences, Department of Economics. Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.ORCID iD: 0000-0002-7692-722X
2023 (English)Doctoral thesis, monograph (Other academic)
Abstract [en]

The Allocation of Expenditures and Time over Time

In the year 2018, the average high skilled single male worked more than 35 hours per week in the market and allocated more than 70 percent of expenditures to services. In the same year, the average low skilled female worked 22 hours per week in the market and allocated around 65 percent of expenditures to services. What might explain these differences at that point in time, and how they have developed over time? In this paper, I compile and analyze data related to time-use and the allocation of expenditures. The dataset that I compile is customized to fit the needs of my companion paper, Home Production, Expenditures, and Time Use, in which I propose and test a theory that includes home production.

Home Production, Expenditures, and Time Use

I propose a unified analysis of expenditures and time use, via a model in which households can produce services at home. I show that the model, which uses stable homothetic preferences and standard functional forms for home production, can match data for the U.S. about expenditures and time-use, both in the cross-section and the developments over time. For women, changes in social norms were important. Absent changes in social norms, the developments would have been vastly different, both in terms of how they allocated their time and in terms of how expenditures were allocated.

It Runs in the Family: Occupational Choice and the Allocation of Talent

Children frequently grow up to work in the same jobs as their parents. Using unique data on worker skills and personality traits, and administrative data on the labor market outcomes of Swedish men, we study how skills and parental background influence occupational choice, intergenerational mobility, and the allocation of talent in the economy. First, we document that sons are disproportionately more likely to follow into the same occupation as their fathers, across all skills and earnings levels. Second, we estimate a general equilibrium Roy model with costly occupational choice and heterogeneous entry barriers depending on parental background. We find that these entry barriers lead to misallocation: Equalizing entry costs across workers leads occupational following to fall by half. This leads to increased intergenerational mobility, with the largest income gains among sons of fathers in the bottom income decile. Third, exploiting structural change in employment in fathers' occupations, difference-in-differences estimates imply that occupational following leads to reduced earnings, concentrated among sons of low-income fathers and those whose skills are misaligned with those of incumbents in their father’s occupation.  Our findings suggest that equalizing career opportunities bring equity gains.

Monetary Policy and Liquidity Constraints: Evidence from the Euro Area

We quantify the relationship between the response of output to monetary policy shocks and the share of liquidity constrained households. We do so in the context of the euro area, using a Local Projections Instrumental Variables estimation. We construct an instrument for changes in interest rates from changes in overnight indexed swap rates in a narrow time window around ECB announcements. Monetary policy shocks have heterogeneous effects on output across countries. Using micro data, we show that the elasticity of output to monetary policy shocks is larger in countries that have a larger fraction of households that are liquidity constrained.

Place, publisher, year, edition, pages
Stockholm: Department of Economics, Stockholm University , 2023. , p. 375
Series
Monograph series / Institute for International Economic Studies, University of Stockholm, ISSN 0346-6892 ; 118
Keywords [en]
Macroeconomics, monetary economics, monetary policy, misallocation, intergenerational mobility, structural change, home production, labor supply
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:su:diva-216083ISBN: 978-91-8014-270-0 (print)ISBN: 978-91-8014-271-7 (electronic)OAI: oai:DiVA.org:su-216083DiVA, id: diva2:1748820
Public defence
2023-05-24, hörsal 4, hus B, Universitetsvägen 10 B, Stockholm, 13:00 (English)
Opponent
Supervisors
Available from: 2023-04-28 Created: 2023-04-04 Last updated: 2023-07-17Bibliographically approved

Open Access in DiVA

Essays on Home Production, Mobility, and Monetary Policy(13342 kB)630 downloads
File information
File name FULLTEXT01.pdfFile size 13342 kBChecksum SHA-512
7ca173e2298cd0f537e686f68f234b961d18f18f658627d367ac8e052ccb03fa39c570c2c92d5fdf9255c1e8562cc884bbb3a723c6dbc2e386ec09b145aef451
Type fulltextMimetype application/pdf

Search in DiVA

By author/editor
Almgren, Mattias
By organisation
Department of EconomicsInstitute for International Economic Studies
Economics

Search outside of DiVA

GoogleGoogle Scholar
Total: 632 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

isbn
urn-nbn

Altmetric score

isbn
urn-nbn
Total: 1595 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf