Showing papers by "Jeremy Greenwood published in 2011"
Posted Content•
TL;DR: The authors found that people are more likely to marry someone of the same education level today than in the past, and that assortative mating has risen with higher education level in the US.
Abstract: Marriage has declined since 1960. The drop is bigger for non-college educated individuals versus college educated ones. Divorce has increased. More so for the non-college educated vis a vis the college educated. Additionally, assortative mating has risen. People are more likely to marry someone of the same education level today than in the past. A model of marriage and divorce is
31 citations
01 Jan 2011
TL;DR: In this article, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation, and the ability of an intermediary to monitor the activity of a project plays an important role in the decision to underwrite a project.
Abstract: What determines the choice of a production technology within a country? While there could be many factors, the e¢ ciency of the country’s …nancial system may play a signi…cant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation. The ability of an intermediary to monitor the activity of a …rm plays an important role in the decision to underwrite a project or not. Can such a theory help to
5 citations
Posted Content•
TL;DR: This article argued that the marginal gains from socializing their children against its costs may not be worth the costs, and argued that as contraception has improved there is less need for parents, churches and states to inculcate sexual mores.
Abstract: Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may stigmatize sex, both because of a concern about the welfare of their flocks and the need to control the cost of charity associated with out-of-wedlock births. Modern contraceptives have profoundly affected the calculus for instilling sexual mores. As contraception has improved there is less need for parents, churches and states to inculcate sexual mores. Technology affects culture.
5 citations
Posted Content•
TL;DR: In this article, a simple model of consumer demand is formulated that uses a slightly modified version of standard preferences, and the modification permits marginal utility, and hence total utility, to be finite when the consumption of computers is zero.
Abstract: The welfare gain to consumers from the introduction of personal computers is estimated here. A simple model of consumer demand is formulated that uses a slightly modified version of standard preferences. The modification permits marginal utility, and hence total utility, to be finite when the consumption of computers is zero. This implies that the good won't be consumed at a high enough price. It also bounds the consumer surplus derived from the product. The model is calibrated/estimated using standard national income and product account data. The welfare gain from the introduction of personal computers is in the range of 2 to 3 percent of consumption expenditure.
2 citations
Posted Content•
TL;DR: In this article, it is demonstrated that a negative correlation between appliance ownership and fertility can arise naturally in Greenwood et al.'s model and evidence is presented casting doubt upon the presumed technological phobia of the Amish.
Abstract: Bailey and Collins (forth.) argue that Greenwood, Seshadri and Vandenbroucke (2005)'s hypothesis that the baby boom was partly due to a burst of productivity in the household sector is not supported by evidence. This conclusion is based upon regression results showing that appliance ownership is negatively correlated with fertility. They also argue that the Amish, who limit the use of modern technology, had a baby boom. First, it is demonstrated that a negative correlation between appliance ownership and fertility can arise naturally in Greenwood et al.'s model. Second, evidence is presented casting doubt upon the presumed technological phobia of the Amish.
2 citations
Posted Content•
TL;DR: The authors argued that the marginal gains from socializing their children against its costs may not be worth the costs, and argued that as contraception has improved there is less need for parents, churches and states to inculcate sexual mores.
Abstract: Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may stigmatize sex, both because of a concern about the welfare of their flocks and the need to control the cost of charity associated with out-of-wedlock births. Modern contraceptives have profoundly affected the calculus for instilling sexual mores. As contraception has improved there is less need for parents, churches and states to inculcate sexual mores. Technology affects culture.
1 citations