Investment, consumption, or public good? Unpaid work and intra-family transfers in the macro-economy
Nancy Folbre and
Additional contact information
Nancy Folbre: Universidad de Massachusetts Amherst Levy Economics Bard College
James Heintz: University of Massachusetts Amherst
EKONOMIAZ. Revista vasca de Economía, 2017, vol. 91, issue 01, 100-121
This paper outlines some preliminary steps toward a more satisfactory integration of family and market dynamics. We begin with a broad overview of conceptual inconsistencies in conventional neoclassical models. Next, we outline several distinctive characteristics of the family economy that deserve consideration. We use this outline to develop a critical assessment of three very different types of models: accounting frameworks (including social accounting matrices), neoclassical growth models that assume joint utility (which typically generate socially optimal outcomes), and neoclassical growth models that problematize family decision making between the generations, often dubbed overlapping generation models. We argue that overlapping generation models provide at least some conceptual leverage for more satisfactory models, and, in our conclusion, we outline some ways in which they could be extended.
Keywords: Family economics; unpaid household work; macroeconomic models; fertility (search for similar items in EconPapers)
JEL-codes: B54 E10 J13 J16 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://www.euskadi.eus/web01-a2reveko/es/k86aEkono ... dpubl=87®istro=11 complete text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ekz:ekonoz:2017106
Ordering information: This journal article can be ordered from
Dpto. de Hacienda y Finanzas, Gobierno Vasco, C/Donostia-San Sebastián, 1, 01010 Vitoria-Gasteiz, Spain
Access Statistics for this article
More articles in EKONOMIAZ. Revista vasca de Economía from Gobierno Vasco / Eusko Jaurlaritza / Basque Government Contact information at EDIRC.
Bibliographic data for series maintained by Iñaki Treviño ().