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Identifier to cite or link to this item: https://doi.org/10.15057/30890
Identifier to cite or link to this item: https://hdl.handle.net/10086/30890

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Title
The Rise of Single-Person Households and the Macroeconomic Consequences
Creator
Creator Name
Lim, Taejun Lim, Taejun
Affiliation
Affiliation Name
Dongguk University
Key Word
single-person households
within-household risk sharing
precautionary savings
JEL
J11
E21
E24
Abstract
The number of single-person households in the U.S. has steadily risen since 1960. We provide a dynamic general equilibrium model to investigate the impact of this change on aggregate savings and labor supply. Our analysis indicates that single individuals tend to save and work more than married ones with the same economic characteristics. Importantly, this finding at the individual level extends to the aggregate level: both aggregate savings and labor supply increase as the share of single-person households increases, for which the general equilibrium effect plays a crucial role.
Publisher
Hitotsubashi University
Issued Date
2019-12
Language
English(eng)
Resource Type
departmental bulletin paper
Version Type
VoR
selfDOI
10.15057/30890
ISSN
0018-280x
NCID
AA00207547
Source Title
Hitotsubashi Journal of Economics
Volume Number
60
Issue Number
2
Page Start
189
Page End
198
Appears in Collections
Vol. 60, no. 2 (Dec. 2019)
URL
https://hdl.handle.net/10086/30890