Unlike most books that concentrate on the microeconomics of household consumption and saving, Household Dynamics builds on these as the foundations for macroeconomic theory and policy. Written by a prominent author in the field, this book presents a modern approach to the link between micro and macroeconomics.
Preface Acknowledgments 1: Consumption and Saving, I 1.1 The Basic Model of Intertemporal Choice: 1.2 Empirical Implications of the Basic Model: 1.3 The Role of Future Earnings: An Introduction: 1.4 Policy Applications: 1.5 Summary: 2: Consumption and Saving, II 2.1 More on the Response of Savings to the Interest Rate: 2.2 Uncertain Income and Precautionary Saving: 2.3 Uncertainty About Age at Death: 2.4 Habit Formation: 2.5 Summary: Appendix: Uncertainty and Insurance: 3: Neoclassical Growth Theory 3.1 Steady State Growth in a Neoclassical Growth Model: 3.2 Transitional Growth and the Principle of Transition Dynamics: 3.3 Capital's Share and the Importance of Transitional Growth: 3.4 Development Explaining Accounting: the Cross-Country Distribution of Income: 3.5 Accounting for Growth and Productivity: 3.6 Summary: 4: Intergenerational Fiscal Policy and Capital Accumulation 4.1 Dynamic Efficiency and the Golden Rule: 4.2 Fiscal Policy and Capital Accumulation: 4.3 Increasing the Size of Government: 4.4 Implications of Government Finance: 4.5 Social Security: 4.6 Income Taxation: 4.7 Summary: 5: Intergenerational Financial Transfers 5.1 Theory of Altruistically Motivated Financial Transfers: 5.2 Implications and Evidence: 5.3 Competing Explanations of Transfers: 5.4 The Contribution of Financial Transfers to Aggregate Wealth: 5.5 Policy Applications: 5.6 Summary: 6: Family Investments in Children, Child Earnings, and Economic Growth 6.1 A Model of Human Capital Bequests: 6.2 Empirical Implications and Evidence: 6.3 The Contribution of Education to U.S. Growth from 1870 to 1970: 6.4 Policy Applications: 6.5 Summary: 7: Skill Acquisition, Inequality, and Growth 7.1 Human Capital Accumulation in Adulthood: 7.2 Evaluating the Ben-Porath Model: 7.3 Wage Inequality and Skill-biased Technical Change: 7.4 Human Capital and Economic Growth: 7.5 Taxation and Human Capital Accumulation: 7.6 Summary: 8: The Allocation of time Between Home and Market Over the Life Cycle 8.1 The Demand for Leisure and the Supply of Labor: 8.2 Household Production: 8.3 Market Work, Home Production, and Leisure: 8.4 Increased Female Labor Force participation and Economic Growth: 8.5 Policy Applications: 8.6 Summary: 9: Household Fertility and Economic Growth 9.1 Income and the Quantity and Quality of Children: 9.2 The Value of Women's Time, Work, and Fertility: 9.3 Fertility and Marital Status: 9.4 From Subsistence to Modern Growth: 9.5 Summary:
