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Articles 1 - 30 of 34
Full-Text Articles in Income Distribution
Does Fertility Matter For Middle Aged And Older Adults’ Risk Attitudes?, Christine Ho, Bussarawan Teerawichitchainan, Joanne Tan, Eugene Rui Le Tan
Does Fertility Matter For Middle Aged And Older Adults’ Risk Attitudes?, Christine Ho, Bussarawan Teerawichitchainan, Joanne Tan, Eugene Rui Le Tan
Research Collection School Of Economics
Given that risk attitudes influence many decisions, it is important to understand the factors that shape such attitudes in late adulthood, when individuals face important risky decisions. While research finds that parenthood tends to correlate with lower risk tolerance in western countries, there is a lacuna on whether such associations persist in late adulthood, and are applicable to the Asian context, where children are conventionally considered a linchpin of old age support. Data for middle aged and older individuals come from the nationwide Singapore Life Panel (N = 6,740). Multivariate statistical analyses are employed to estimate the associations between willingness …
In A Gig Economy, Do People Work More When Wages Rise?, Singapore Management University
In A Gig Economy, Do People Work More When Wages Rise?, Singapore Management University
Perspectives@SMU
Study finds that when wages go up, how the supply of labour changes can depend on how the change in pay is communicated
Strategic Parent Meets Detached Child? Parental Intended Bequest Division And Support From Children, Christine Ho
Strategic Parent Meets Detached Child? Parental Intended Bequest Division And Support From Children, Christine Ho
Research Collection School Of Economics
Whereas the literature has found that elderly parents may use bequests to reward children who provide them with time support, there is limited evidence on whether younger less needy parents may base their intended bequest division on alternative forms of support from children. Using a large-scale dataset of middle-aged and older Singaporeans, I find that parents intend to leave larger bequest shares to coresident children and to children who provide greater material support. Parents also intend to bequeath more to children in whom they confide frequently while they bequeath more to children in whom they rarely confide when the latter …
Covid-19, Lockdown, And The Dynamics Of Subjective Well-Being, Terence C. Cheng, Kim, Kanghyock Koh
Covid-19, Lockdown, And The Dynamics Of Subjective Well-Being, Terence C. Cheng, Kim, Kanghyock Koh
Research Collection School Of Economics
We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in …
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Research Collection School Of Economics
It is costly to collect the household- and individual-level data that underlies official estimates of poverty and health. For this reason, developing countries often do not have the budget to update their estimates of poverty and health regularly, even though these estimates are most needed there. One way to reduce the financial burden is to substitute some of the real data with predicted data. An approach referred to as double sampling collects the expensive outcome variable for a sub-sample only while collecting the covariates used for prediction for the full sample. The objective of this study is to determine if …
Efficient Child Care Subsidies, Christine Ho, Nicola Pavoni
Efficient Child Care Subsidies, Christine Ho, Nicola Pavoni
Research Collection School Of Economics
We study the design of child care subsidies in an optimal welfare problem with heterogeneous private market productivities. The optimal subsidy schedule is qualitatively similar to the existing US scheme. Efficiency mandates a subsidy on formal child care costs, with higher subsidies paid to lower income earners and a kink as a function of child care expenditure. Marginal labor income tax rates are set lower than the labor wedges, with the potential to generate negative marginal tax rates. We calibrate our simple model to features of the US labor market and focus on single mothers with children aged below 6. …
China: Facing The Middle Income Trap, Singapore Management University
China: Facing The Middle Income Trap, Singapore Management University
Perspectives@SMU
Neoliberalism and deregulation provide ready-made growth for China, but formidable hurdles block its route to developed status
Optimal Social Insurance With Informal Child Care, Christine Ho
Optimal Social Insurance With Informal Child Care, Christine Ho
Research Collection School Of Economics
The possibility of engaging in household child care may exacerbate the incentives of parents and grandparents to falsely claim disability benefits as households also get to save on formal child care costs. This paper considers a multi-generational family model with persistence in privately observed shocks and presents an efficient implementation case for subsidizing formal child care costs of the disabled. An implementation of the optimal scheme that consists of capped formal day care subsidies, non-linear income taxation and asset-testing is proposed. Simulations based on a parametrization that targets key features of the US labor and child care markets suggest that …
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Research Collection School Of Economics
We study a trade model with monopolistic competition a la Melitz (2003) that is standard except that firm heterogeneity is endogenously determined by firms innovating to enhance their productivities. We show that the equilibrium productivity and firm-size distributions exhibit power-law tails under rather general conditions on demand and technology. In particular, the emergence of the power laws is essentially independent of the underlying primitive heterogeneity among firms. We investigate the model’s welfare implications, and conduct a quantitative analysis of welfare gains from trade. We find that, conditional on the same trade elasticity and values of the common parameters, our model …
Income Inequality, Productivity, And International Trade, Wen-Tai Hsu, Lin Lu, Pierre Picard
Income Inequality, Productivity, And International Trade, Wen-Tai Hsu, Lin Lu, Pierre Picard
Research Collection School Of Economics
This paper discusses the effect of income inequality on selection and aggregate productivity in a general equilibrium model with non-homothetic preferences. It shows the existence of a negative relationship between the number and quantity of products consumed by an income group and the earnings of other income groups. It also highlights the negative effect of a mean-preserving spread of income on aggregate productivity through the softening of firms’ selection. This effect is however mitigated in the presence of international trade. In a quantitative analysis, it is shown that an excessively large mean-preserving spread of income may harm the rich as …
The Effect Of Non-Contributory Pensions On Labour Supply And Private Income Transfers: Evidence From Singapore, Yanying Chen, Yi Jin Tan
The Effect Of Non-Contributory Pensions On Labour Supply And Private Income Transfers: Evidence From Singapore, Yanying Chen, Yi Jin Tan
Research Collection School Of Economics
Non-contributory pensions are becoming increasingly prevalent worldwide. As their effects are likely to be context-dependent, evaluating their effects in a wide range of settings is important for establishing the external validity of the non-contributory pension literature. We use a new monthly panel dataset and a difference-in-differences strategy to study the effect of a new non-contributory pension in Singapore (the Silver Support Scheme or SSS) on labour supply, work expectations, private cash transfers, and expenditure, 1 year after its implementation. We find no evidence that receiving SSS payouts led to a fall in labour supply, work expectations, or the receipt of …
The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross
The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross
Research Collection School Of Economics
This paper examines the extent to which a change in the cost of car ownership affects the house price gradient with respect to distance from the central business district (CBD). Theory suggests that if the cost of car ownership increases, then people will shift towards other modes of transportation, thus reducing house prices farther away from the CBD. However, the cost of car ownership is likely to be endogenous and correlated with various unobserved factors that also contribute to a change in the house price gradient. To obtain causal effects, we exploit a unique feature of Singapore’s car registration process. …
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Research Collection School Of Economics
In this paper, we propose a new method of poverty decomposition. Our method remedies the shortcomings of existing methods and has some desirable properties such as time-revision consistency and subperiod additivity. It integrates the existing methods of growth-redistribution decomposition and sector based decomposition, because it allows us to decompose poverty change into growth and redistribution components for each group (e.g., regions or sectors) in the economy. We extend out method to have six components and provide empirical application to the Philippines for the period of 1985 to 2009.
Essays On Transportation Cost, Social Security Retirement Income And Housing Market, Naqun Huang
Essays On Transportation Cost, Social Security Retirement Income And Housing Market, Naqun Huang
Dissertations and Theses Collection
This dissertation comprises three papers that study how transportation cost affect price distribution across a city, how home equity affects the timing of pension withdrawal, and potential implications of macroprudential policies on the price informativeness. Specifically, the first paper examines how a change in the cost of car ownership affects housing price gradient with respect to distance from the central business district (CBD) in Singapore. The second paper investigates how household home equity affect the timing of claiming Social Security Retirement Income (SSRI) in the United States. The third paper explores how countercyclical policies in Singapore real estate market affect …
Homogeneity Pursuit In Panel Data Models: Theory And Applications, Wuyi Wang, Peter C. B. Phillips, Liangjun Su
Homogeneity Pursuit In Panel Data Models: Theory And Applications, Wuyi Wang, Peter C. B. Phillips, Liangjun Su
Research Collection School Of Economics
This paper studies estimation of a panel data model with latent structures where individuals can be classified into different groups where slope parameters are homogeneous within the same group but heterogeneous across groups. To identify the unknown group structure of vector parameters, we design an algorithm called Panel-CARDS which is a systematic extension of the CARDS procedure proposed by Ke, Fan, and Wu (2015) in a cross section framework. The extension addresses the problem of comparing vector coefficients in a panel model for homogeneity and introduces a new concept of controlled classification of multidimensional quantities called the segmentation net. We …
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Research Collection School Of Economics
It is costly to collect the household- andindividual-level data that underlies official estimates of poverty and health. Forthis reason, developing countries often do not have the budget to update their estimatesof poverty and health regularly, even though these estimates are most neededthere. One way to reduce the financial burden is to substitute some of the realdata with predicted data. An approach referred to as double sampling collectsthe expensive outcome variable for a sub-sample only while collecting thecovariates used for prediction for the full sample. The objective of this studyis to determine if this would indeed allow for realizing meaningful reductionsin …
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Is Predicted Data A Viable Alternative To Real Data?, Tomoki Fujii, Roy Van Der Weide
Research Collection School Of Economics
It is costly to collect the household- and individual-level data that underlies official estimates of poverty and health. For this reason, developing countries often do not have the budget to update their estimates of poverty and health regularly, even though these estimates are most needed there. One way to reduce the financial burden is to substitute some of the real data with predicted data. An approach referred to as double sampling collects the expensive outcome variable for a sub-sample only while collecting the covariates used for prediction for the full sample. The objective of this study is to determine if …
Borderless Markets: A Boon Or Bane For Marketers?, Philip Charles Zerrillo
Borderless Markets: A Boon Or Bane For Marketers?, Philip Charles Zerrillo
Asian Management Insights
Economic integration and free trade isnot always a panacea for businesses.
Emerging Markets And The End Of Qe, Singapore Management University
Emerging Markets And The End Of Qe, Singapore Management University
Perspectives@SMU
Quantitative easing made it easier for emerging economies to delay necessary reforms, but policymakers are better able to manage crises than ever before
Bitcoins, Block Chains, And Mining Pools, Singapore Management University
Bitcoins, Block Chains, And Mining Pools, Singapore Management University
Perspectives@SMU
Bitcoins can help facilitate online commerce, but investors – and speculators – should understand how the cryptocurrency works
Wage, Income And Consumption Inequality In Japan, 1981-2008: From Boom To Lost Decades, Jeremy Lise, Nao Sudo, Michio Suzuki, Ken Yamada, Tomoaki Yamada
Wage, Income And Consumption Inequality In Japan, 1981-2008: From Boom To Lost Decades, Jeremy Lise, Nao Sudo, Michio Suzuki, Ken Yamada, Tomoaki Yamada
Research Collection School Of Economics
In this paper we document the main features of the distributions of wages, earnings, consumption and wealth in Japan since the early 1980s using four main data sources: the Basic Survey on Wage Structure (BSWS), the Family Income and Expenditure Survey (FIES), the National Survey of Family Income and Expenditure (NSFIE) and the Japanese Panel Survey of Consumers (JPSC). We present an empirical analysis of inequality that specifically considers the path from individual wages and earnings, to household earnings, after-tax income, and finally consumption. We find that household earnings inequality rose substantially over this period. This rise is made up …
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Research Collection School Of Economics
In this paper, we propose a new method of poverty decomposition. Our method remedies the shortcomings of existing methods and has some desirable properties such as time reversion consistency and subperiod additivity. It integrates the existing methods of growth redistribution decomposition and sector-based decomposition, because it allows us to decompose the change in poverty into growth and redistribution components for each group (e.g., regions or sectors) in the economy. We extend our method to include six components and provide an empirical application to the Philippines for the period 1985–2009.
Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii
Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii
Research Collection School Of Economics
Applying the small-area estimation methods to Cambodia data, we decompose the total inequality in wealth (consumption) and health (child undernutrition) indicators into within-location and between-location components. Because the knowledge of the pattern of spatial disparity in poverty and undernutrition is important for the geographic targeting of resources, we conduct a geographic decomposition of the variance of the Foster-Greere-Thorbecke index in addition to the standard decomposition exercise based on the generalized entropy measures. We find that a sizable proportion of wealth inequality is due to between-location inequality, whereas health inequality is mainly due to within-location inequality.
Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii
Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii
Research Collection School Of Economics
The small-area estimation developed by Elbers, Lanjouw and Lanjouw (2002, 2003), in which a census and a survey are combined to produce the estimates of welfare measures for small geographic areas, has become a standard tool for poverty analysis in developing countries. The small-area estimates are typically plotted on a map, which are commonly called a poverty map. Poverty maps proved useful for policy analysis and formulation, and have become increasingly popular among policy-makers and researchers. In Cambodia, poverty maps have been used by various international organizations, ministries and non-governmental organizations for analyzing the poverty situations for their operation areas, …
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Research Collection School Of Economics
In this paper, we propose a new method of poverty decomposition. Our method remedies the shortcomings of existing methods and has some desirable properties such as time-reversion consistency and subperiod additivity. It integrates the existing methods of growth-redistribution decomposition and sector-based decomposition, because it allows us to decompose poverty change into growth and redistribution components for each group (e.g. regions or sectors) in the economy. We extend our method to have six components and provide an empirical application to the Philippines for the period 1985-2009.
Impact Of Food Inflation On Poverty In The Philippines, Tomoki Fujii
Impact Of Food Inflation On Poverty In The Philippines, Tomoki Fujii
Research Collection School Of Economics
We simulate the impact of actual food price increase between June 2006 and June 2008 on poverty across different areas and whether the household’s main income source is agricultural activities. We explicitly treat heterogeneity in food price changes and the patterns of consumption and production by merging a expenditure survey dataset and a price dataset at the provincial level or lower. While the increase of head count index is larger for non-agricultural households than agricultural households, the opposite is true for the poverty gap and poverty severity measures, because poor agricultural households are particularly vulnerable to food inflation.
When It Comes To Poverty Reduction, Less May Be More, Singapore Management University
When It Comes To Poverty Reduction, Less May Be More, Singapore Management University
Perspectives@SMU
It is a widely accepted belief that people should be better off as the economy expands: The greater the growth, the greater the likelihood that poverty numbers will decline. While there are many good and valid reasons to hold this to be true, exceptions exist, where the lives of the poor have improved rapidly despite slow growth, or where poverty actually increases along with strong economic growth.
Predictions For Protection: A System To Measure And Detect Asset Bubbles, Singapore Management University
Predictions For Protection: A System To Measure And Detect Asset Bubbles, Singapore Management University
Perspectives@SMU
The damage wrecked by the bursting of asset bubbles can have a devastating impact on investors' fortunes. In the Internet bubble, some US$8 trillion of shareholder wealth was destroyed. What is even more pertinent, however, is how the popping of a bubble can create a financial crisis, impacting nations and their economies. As a result, understanding how to identify bubbles is an important first step in combating these speculative bubbles, with interested parties ranging from the academic and investment community to central bankers and policy makers.
How The Mindless Growth Mantra Of Modern Economics Is Failing Us, Singapore Management University
How The Mindless Growth Mantra Of Modern Economics Is Failing Us, Singapore Management University
Perspectives@SMU
Just three years after the 2008 global financial crisis, the world wonders, yet again, if another global downturn might be looming.
Two-Sample Estimation Of Poverty Rates For Disabled People: An Application To Tanzania, Tomoki Fujii
Two-Sample Estimation Of Poverty Rates For Disabled People: An Application To Tanzania, Tomoki Fujii
Research Collection School Of Economics
Estimating poverty measures for disabled people in developing countries is di cult, partly because relevant data are not available. We develop two methods to estimate poverty by the disability status of the household head. We extend the small-area estimation proposed by Elbers, Lanjouw and Lanjouw (2002, 2003) so that we can run a regression on head's disability status even when such information is unavailable in the survey. We do so by aggregation and by moment adjusted two sample instrumental variable estimation. Our results from Tanzania show that both methods work well, and that disability is indeed associated with poverty.