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Consumption Growth in a Booming Economy: Taiwan 1976-96 AgEcon
McKenzie, David.
Consumption and income have both grown rapidly in Taiwan over the past forty years, with younger birth cohorts experiencing faster growth. The long upward trend in consumption presents a strong challenge to the consumption smoothing predictions of the Permanent Income Hypothesis. We investigate the extent to which consumption theory can account for this trend in an environment where a large majority of households have high savings rates. Household survey data from 1976-96 are used to estimate dynamic pseudo-panel models with inter-cohort heterogeneity. We evaluate the impacts on consumption of migration, mortality, household composition, liquidity constraints, unanticipated aggregate shocks, hyperbolic discounting, habit formation and precautionary saving....
Tipo: Working or Discussion Paper Palavras-chave: Consumption growth; Pseudo-panel; Prudence; Taiwan; International Development; O12; O16; E21; C23.
Ano: 2001 URL: http://purl.umn.edu/28398
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Natural Experiment Evidence on Whether Selection Bias Overstates the Gains from Migration AgEcon
Gibson, John; McKenzie, David; Rohorua, Halahingano; Stillman, Steven.
Migration of workers from developing to developed countries and the resulting remittance flows are important development policies. World Bank calculations show that restrictions on international migration have larger welfare costs than the more widely studied restrictions on international trade. But estimated gains from migration may be affected by selection bias, with differences in outcomes for migrants and non-migrants reflecting unobserved differences in ability, skills, and motivation, rather than the act of moving itself. This poster illustrates this selection bias in commonly used statistical corrections for nonrandom selection. A unique survey conducted by the authors of Tongan migrants in New Zealand, and of non-migrants in Tonga is used. New...
Tipo: Conference Paper or Presentation Palavras-chave: Migration; Selection; Natural Experiment; Labor and Human Capital; 015; J61; F22; C93.
Ano: 2006 URL: http://purl.umn.edu/25704
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Preliminary Impacts of a New Seasonal Work Program on Rural Household Incomes in the Pacific AgEcon
Gibson, John; McKenzie, David.
Seasonal work programs are increasingly advocated by international aid agencies as a way of enabling both developed and developing countries to benefit from migration. They are argued to provide workers with new skills and allow them to send remittances home, without the receiving country having to worry about long-term assimilation and the source country worrying about permanent loss of skills. However, formal evidence as to the development impact of seasonal worker programs is nonexistent. This paper provides the first such evaluation, studying New Zealand's new Recognized Seasonal Employer (RSE) program which allows Pacific Island migrants to work in horticulture and viticulture in New Zealand for up to seven months per year. We use baseline and...
Tipo: Working or Discussion Paper Palavras-chave: Propensity score matching; Rural household incomes; Seasonal work programs; Labor and Human Capital; J61; O15.
Ano: 2009 URL: http://purl.umn.edu/50101
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