A recurring question in the mortgage default literature is why underwater default is rare relative to model predictions. We find that one answer is miscalibration of flow payoffs. We build a novel, detailed quantitative model of mortgage default and find that realistic rent dynamics plus mild...

We implement a binary trust game between 211 married couples from lowincome households in urban India. In a separate experiment, these spouses randomly received either only a joint savings device (control) or, additionally, a device for individual usage (treatment). Combining data from both...

Conducting a nationally representative survey of 2,500 working parents between Mother's and Father's Day of 2020, we examine gender differences in the childcare shock during the COVID-19 pandemic. Drawing on demographic, household, and labor market factors, we document gender differences in time...

Conducting a nationally representative survey of 2,500 working parents between Mother's and Father's Day of 2020, we examine gender differences in the childcare shock during the COVID-19 pandemic. Drawing on demographic, household, and labor market factors, we document gender differences in time...

Husbands are often key stakeholders and influential in women's enterprise performance. Intrahousehold constraints and relational dynamics may contribute to a gender gap in entrepreneurship. This mixed-methods paper uses a randomized controlled trial and qualitative research to examine whether...

This paper evaluates the redistributive and labour supply effects of transitioning from a joint to a fully individualised income tax system in Ireland. The current Irish tax system, which remains partially joint since the early 2000's, provides a financial advantage to married couples by...

We examine the effect of women's control over resources on their relative decision-making power within households, using an Instrumental Variable approach. We construct a composite Resource Empowerment Index that captures women's access to and control over economic and informational resources,...

This study investigates the economic welfare of refugees and host communities in Kenya, utilizing bi-monthly panel data collected from May 2020 to May 2022. The analysis employs a fixed effect model, which effectively captures the nuances of welfare differences between urban and camp refugees....

Electrification typically promotes economic development and enhances household wellbeing. However, how electrification affects the economic activities of different demographic groups is not yet sufficiently understood. Focusing only on aggregate household-level outcomes may overlook unequal...

Little is known about the extent and drivers of information flow within couples and whether spouses hold aligned expectations about the same outcomes. To provide new evidence, we conduct an online survey of 2,200 middle-aged married couples in the U.S. Our focus is on expectations about Social...

How do intrahousehold dynamics affect the investment of female entrepreneurs? This paper presents findings from a randomized controlled trial in Ghana that assesses the impacts of four alternative support mechanisms on women-owned businesses: (a) an unconditional grant provided through a mobile...

Unpaid domestic work is the main part of non-market household production which is not covered by national statistics (GDP). The monetary value of unpaid work is identified within the gross value added (GVA), which is 60-80% of (the invisible) non-market household production. GVA of unpaid work...

This paper examines trends in household financial strain across Europe from 2006 to 2022, a period marked by three major economic shocks: the 2008 financial crisis, the COVID-19 pandemic, and the ongoing cost-of-living crisis. Using a subjective measure of welfare, financial strain, we analyse...

We study how changes in couples' relative wages affect the division of childcare. Using a nationwide wage reform that raised pay in the female-dominated teaching profession, we find that closing 25% of the earnings gap between female teachers and their male spouses led to a 12% reduction in the...

In this study, we investigate the role of matrilineal kinship norms for gender gaps in labor market outcomes. We analyze the implementation of a reform that significantly altered the customary inheritance system by restricting practices within matrilineal ethnic groups, while those of...

This paper reexamines the question of gender differences in financial relative risk aversion using updated methods and data. Specifically, the paper revisits the 1998 work "Are women more risk averse?" by Jianakoplos and Bernasek, suggests refinements in their model in relation to the database...

Families play an important role in providing insurance against adverse shocks, but little is known about how shocks affect the family structure itself. We study the impact of a labor market shock on divorce and intra-household allocation of resources, exploiting a naturalexperimental earthquake...

Does the presence of a partner affect individuals' propensity to participate in the stock market? In this paper, we estimate the effect of cohabiting with a partner on stock market participation using rich administrative data from Denmark. It is a well-known puzzle that few people participate in...

I investigate the intra-household labor and resource allocation consequences of an employment guarantee targeting rural households in India. The guarantee insures household earnings, replacing women as added workers and shutting down a motive for saving. Despite sizable program-job take-up, the...

This paper examines how expecting to receive an inheritance impacts household savings decisions. Life-cycle consumption models indicate that the expectation of inheriting should reduce current savings plans for forward-thinking consumers. We investigate how inheritance expectations shape savings...

This study examines whether the gaps in four financial well-being (FWB) indicators - emergency fund availability, spending less than income, perceived financial comfort, and no credit card debt - between groups with varying levels of financial literacy changed during the economic disruptions of...

How married couples allocate their time across activities has been studied in developed countries, but remains an open question in many developing countries. We pool the 2019 and 2024 waves of the India Time Use Survey (TUS), the two most recent nationally representative surveys, to analyze the...