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Joint decisions on household membership and human capital accumulation of youths. The role of expected earnings and local markets

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Author Info
Gianna Claudia Giannelli
Chiara Monfardini

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Abstract

This paper analyses the effects of expected earnings and local markets conditions on the behaviour of young adults with high school diplomas. Decisions to either remain in the parental home or form a new household are modelled jointly with those of either gaining work experience or investing in a university education. Expected lifetime earnings are found to play a crucial role in determining the choice of studying and residing with parents. Poor labour market opportunities discourage young people from working and induce them to study. The cost of housing greatly influences the choice of working and leaving the parental home. Copyright Springer-Verlag Berlin Heidelberg 2003

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File URL: http://hdl.handle.net/10.1007/s001480200119
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Publisher Info
Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 16 (2003)
Issue (Month): 2 (05)
Pages: 265-285
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Handle: RePEc:spr:jopoec:v:16:y:2003:i:2:p:265-285

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Related research
Keywords: JEL classification: C25; J12; J24; Key words: Living arrangements; expected lifetime earnings; multinomial probit;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. David M. Blau, 1999. "The Effect Of Income On Child Development," The Review of Economics and Statistics, MIT Press, vol. 81(2), pages 261-276, May. [Downloadable!] (restricted)
  2. Maite Martínez & J. Ruiz Castillo, . "The decisions of Spanish youth: A cross-section study," Studies on the Spanish Economy 14, FEDEA. [Downloadable!]
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  3. Patricia Rice, 1999. "The impact of local labour markets on investment in further education: Evidence from the England and Wales youth cohort studies," Journal of Population Economics, Springer, vol. 12(2), pages 287-312. [Downloadable!] (restricted)
  4. Luigi Guiso & Tullio Jappelli, 1999. "Private Transfers, Borrowing Constraints and the Timing of Homeownership," CSEF Working Papers 17, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
    Other versions:
  5. Brunello, Giorgio & Lupi, Claudio & Ordine, Patrizia, 2001. "Widening differences in Italian regional unemployment," Labour Economics, Elsevier, vol. 8(1), pages 103-129, January. [Downloadable!] (restricted)
  6. Rosenzweig, Mark R & Wolpin, Kenneth I, 1993. "Intergenerational Support and the Life-Cycle Incomes of Young Men and Their Parents: Human Capital Investments, Coresidence, and Intergenerational Financial Transfers," Journal of Labor Economics, University of Chicago Press, vol. 11(1), pages 84-112, January. [Downloadable!] (restricted)
  7. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  8. Keane, Michael P, 1992. "A Note on Identification in the Multinomial Probit Model," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(2), pages 193-200, April.
  9. McElroy, Marjorie B, 1985. "The Joint Determination of Household Membership and Market Work: The Case of Young Men," Journal of Labor Economics, University of Chicago Press, vol. 3(3), pages 293-316, July. [Downloadable!] (restricted)
  10. Ermisch, John F, 1996. "Parental Support for Human Capital Investment by Young Adults," CEPR Discussion Papers 1536, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  11. Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-38, May. [Downloadable!] (restricted)
  12. Stern, Steven, 1989. "Rules of thumb for comparing multinomial logit and multinomial probit coefficients," Economics Letters, Elsevier, vol. 31(3), pages 235-238, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sascha O. Becker & Samuel Bentolila & Ana Fernandes & Andrea Ichino, 2005. "Job Insecurity and Youth Emancipation: A Theoretical Approach," Diskussionsschriften dp0514, Universitaet Bern, Departement Volkswirtschaft. [Downloadable!]
    Other versions:
  2. Gallice, Andrea, 2007. "Education, Dynamic Signaling and Social Distance," Discussion Papers in Economics 1364, University of Munich, Department of Economics. [Downloadable!]
    Other versions:
  3. Becker, Sascha O. & Bentolila, Samuel & Fernandes, Ana & Ichino, Andrea, 2004. "Job Insecurity and Children’s Emancipation," IZA Discussion Papers 1046, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  4. Antonia Díaz & M. Dolores Guilló, 2005. "Family ties and labor supply," Investigaciones Economicas, Fundación SEPI, vol. 29(2), pages 289-329, May. [Downloadable!]
  5. Sascha O. Becker & Samuel Bentolila & Ana Fernandes & Andrea Ichino, 2005. "Youth Emancipation and Perceived Job Insecurity of Parents and Children," IZA Discussion Papers 1836, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  6. Algan, Yann & Cahuc, Pierre, 2005. "The Roots of Low European Employment: Family Culture?," CEPR Discussion Papers 5169, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  7. repec:ese:iserwp: is not listed on IDEAS
  8. Paola Giuliano, 2006. "Living Arrangements in Western Europe: Does Cultural Origin Matter?," IZA Discussion Papers 2042, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  9. Maria Concetta Chiuri & Daniela Del Boca, 2008. "Household Membership Decisions of Adult Children: Does Gender and Institutions Matter?," Carlo Alberto Notebooks 75, Collegio Carlo Alberto. [Downloadable!]
  10. Chiuri, Maria Concetta & Del Boca, Daniela, 2008. "Household Membership Decisions of Adult Children," IZA Discussion Papers 3546, Institute for the Study of Labor (IZA). [Downloadable!]
  11. Francesco C. Billari & Guido Tabellini, 2008. "Italians are Late: Does it Matter?," NBER Chapters, in: Demography and the Economy National Bureau of Economic Research, Inc. [Downloadable!]
  12. Flannery, Darragh & O'Donoghue, Cathal, 2009. "The Determinants of Higher Education Participation in Ireland: A Micro Analysis," The Economic and Social Review, Economic and Social Studies, vol. 40(1), pages 73-107. [Downloadable!]
  13. Lauer, Charlotte, 2000. "Enrolments in higher education in West Germany : the impact of social background, labour market returns and educational funding," ZEW Discussion Papers 00-59, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  14. Maria Concetta Chiuri & Daniela Del Boca, 2007. "Living arrangements in Europe: exploring gender differences and institutional characteristics," CHILD Working Papers wp24_07, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY. [Downloadable!]
    Other versions:
  15. Francesco Pastore, 2005. "To Study or to Work? Education and Labour Market Participation of Young People in Poland," IZA Discussion Papers 1793, Institute for the Study of Labor (IZA). [Downloadable!]
  16. Victoria Prowse, 2007. "Modeling Employment Dynamics with State Dependence and Unobserved Heterogeneity," Economics Series Working Papers 337, University of Oxford, Department of Economics. [Downloadable!]
  17. Deborah A. Cobb-Clark, 2008. "Leaving Home: What Economics Has to Say about the Living Arrangements of Young Australians," CEPR Discussion Papers 568, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
    Other versions:
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