Coordination Funds

宏观经济模型建立在微观经济基础之上。在过去的几十年里，宏观经济文献越来越多地纳入异质家庭来分析，例如，宏观经济冲击的传导，收入和财富不平等，或再分配政策的总体影响。然而，即使在这些丰富的模型框架中，家庭也通常由单一代理人代表，其行为无法捕捉家庭成员的不同消费、就业或投资可能性，家庭组成随时间的变化，或具有利益冲突的家庭成员之间的讨价还价情况。虽然从这些家庭内部特征中抽象出来可能适合于具体的研究问题，但它不足以捕捉现代社会中的几个重要观察结果。首先，在过去几十年里，发达国家的女性劳动力供给急剧增加。第二，家庭收入的横截面分布和劳动收入风险分担能力取决于配偶的般配性和夫妻的劳动供给选择。第三，收入不是集中在家庭内部，而是成年家庭成员之间的消费分配取决于个人收入来源，这对消费不平等和劳动力供给产生了影响。第四，与家庭构成相关的支出不仅在整个生命周期中系统性地变化，而且会对意外事件做出反应，从而影响家庭的储蓄和劳动力供给决策。最后，家庭在家庭一级提供自我保险，例如，通过中等收入者的劳动力供应决定、家庭提供的医疗保健、共同住房或家庭一级的货币转移。沿着这样的边际调整对家庭的共同行为有影响。本研究单位的目标是研究这些特征，这些特征对个人之间的收入、消费和财富分配以及宏观经济总量具有直接影响。我们的研究计划考虑了家庭内部决策行为的几个方面，并通过分析家庭决策如何与经济中关键生产要素的市场配置（即总劳动力、资本和要素生产率及其分配）相互作用而超越了这一点。通过对家庭内部决策进行明确建模，我们还拓宽了对政策改革的经济成本和收益的分析。从这个角度来看，我们的研究强调了家庭内部决策、经济中商品和服务的配置、收入和财富的分配和代际传递以及经济政策对家庭的影响之间的多重反馈。

Macroeconomic modelling builds on microeconomic foundations. Over the last decades, the macroeconomic literature has increasingly incorporated heterogeneous households to analyze, e.g., the transmission of macroeconomic shocks, income and wealth inequality, or the aggregate implications of redistributive policies. Even in these rich model frameworks, however, households are typically represented by a single agent whose behavior does not capture the different consumption, employment or investment possibilities of household members, the changes of the family composition over time, or the bargaining situations between household members with conflicting interests. While abstracting from these intra-household features may be appropriate for specific research questions, it is inadequate to capture several important observations in modern societies. First, female labor supply has increased sharply over the past decades in developed countries. Second, the cross-sectional income distribution and the ability of households to share labor income risks depend on the assortativeness of mating and on the labor supply choices of couples. Third, income is not pooled within the household, but instead the consumption allocation among adult household members depends on the sources of individual income with implications for consumption inequality and labor supply. Fourth, expenditures related to household composition vary not only systematically over the lifecycle, but also respond to unexpected events, which has an impact on household’s savings and labor supply decisions. Finally, households provide self-insurance at the family level, e.g., through labor supply decisions of secondary earners, home provided health care, joint housing, or monetary transfers at the family level. Adjustments along such margins have implications for the joint behavior of the household. The goal of this research unit is to study these features, which have direct implications for the distributions of income, consumption and wealth across individuals, and for macroeconomic aggregates. Our research program takes into account several aspects of intra-household decision behavior, and moves beyond this by analyzing how household decisions interact with the market allocation of the key production factors in an economy, i.e., aggregate labor, capital, and factor productivity, and their distribution. Through modeling intra-household decisions explicitly, we also broaden the analysis of the economic costs and benefits of policy reforms. With this perspective, our research emphasizes the manifold feedback between intra-household decisions, the allocation of goods and services in an economy, the distribution and intergenerational transmission of income and wealth, and the impact of economic policy for families.