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Three essays on the economic analysi...

Levenson, Alec Robert.

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Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization./
Author:	Levenson, Alec Robert.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 1994,
Description:	231 p.
Notes:	Source: Dissertations Abstracts International, Volume: 56-08, Section: A.
Contained By:	Dissertations Abstracts International56-08A.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9424702
ISBN:	9781392411001

Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization.
Levenson, Alec Robert.

Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization. - Ann Arbor : ProQuest Dissertations & Theses, 1994 - 231 p.

Source: Dissertations Abstracts International, Volume: 56-08, Section: A.

Thesis (Ph.D.)--Princeton University, 1994.

This item must not be sold to any third party vendors.

Chapter One: Do consumers respond to future income shocks? Evidence from social security reform in Taiwan. A basic prediction of both the permanent income hypothesis and life cycle model is that an unexpected increase in future income (a "helicopter drop" of newfound wealth) produces an immediate increase in current consumption. This chapter tests that prediction using a natural experiment in Taiwan. The 1985 Labor Standards Law granted all employees in covered industries a windfall retirement/severance benefit. My results indicate that consumption did not increase for those granted the windfall, relative to those who received nothing. Moreover, consumption for those receiving a greater windfall did not increase relative to those who were granted less. Chapter Two (joint with Timothy Besley): The role of informal finance in household capital accumulation: Evidence from Taiwan. Economies that experience rapid growth also experience major changes in consumption patterns, particularly for consumer durables. This chapter studies the diffusion of durables in Taiwan between 1977 and 1991. We focus on the link between household accumulation of durables and participation in informal financial institutions. While growth in per capita income in Taiwan has been great, many households still rely on traditional forms of finance. We test the idea that rotating savings and credit associations, which are found worldwide, exist to lower the cost of saving for durables. Our analysis finds evidence of that link. Chapter Three: Industrialization and labor reallocation: Taiwan's experience 1976-91. As a country industrializes there is a mass shift of the labor force from agriculture to industry and services. Though a universal phenomenon, there is much that is unknown about this process at the individual level. This chapter analyzes the dynamics of labor reallocation in Taiwan between 1976 and 1991, a period of rapid industrialization. The main findings are that (i) education played a key role; (ii) there was relatively little net movement out of agriculture for those in the main working years (ages 25-59); and (iii) the net increase in female labor force participation was channelled entirely into industrial employment.

ISBN: 9781392411001Subjects--Topical Terms:

517137
Economics.
Subjects--Index Terms:

China

Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization.
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100 1 $a Levenson, Alec Robert. $3 3548150
245 1 0 $a Three essays on the economic analysis of Taiwan: I. The response of consumption to social security reform; II. The role of informal finance in durable goods accumulation; III. Labor market reallocation during industrialization.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 1994
300 $a 231 p.
500 $a Source: Dissertations Abstracts International, Volume: 56-08, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
500 $a Advisor: Besley, Timothy.
502 $a Thesis (Ph.D.)--Princeton University, 1994.
506 $a This item must not be sold to any third party vendors.
506 $a This item must not be added to any third party search indexes.
520 $a Chapter One: Do consumers respond to future income shocks? Evidence from social security reform in Taiwan. A basic prediction of both the permanent income hypothesis and life cycle model is that an unexpected increase in future income (a "helicopter drop" of newfound wealth) produces an immediate increase in current consumption. This chapter tests that prediction using a natural experiment in Taiwan. The 1985 Labor Standards Law granted all employees in covered industries a windfall retirement/severance benefit. My results indicate that consumption did not increase for those granted the windfall, relative to those who received nothing. Moreover, consumption for those receiving a greater windfall did not increase relative to those who were granted less. Chapter Two (joint with Timothy Besley): The role of informal finance in household capital accumulation: Evidence from Taiwan. Economies that experience rapid growth also experience major changes in consumption patterns, particularly for consumer durables. This chapter studies the diffusion of durables in Taiwan between 1977 and 1991. We focus on the link between household accumulation of durables and participation in informal financial institutions. While growth in per capita income in Taiwan has been great, many households still rely on traditional forms of finance. We test the idea that rotating savings and credit associations, which are found worldwide, exist to lower the cost of saving for durables. Our analysis finds evidence of that link. Chapter Three: Industrialization and labor reallocation: Taiwan's experience 1976-91. As a country industrializes there is a mass shift of the labor force from agriculture to industry and services. Though a universal phenomenon, there is much that is unknown about this process at the individual level. This chapter analyzes the dynamics of labor reallocation in Taiwan between 1976 and 1991, a period of rapid industrialization. The main findings are that (i) education played a key role; (ii) there was relatively little net movement out of agriculture for those in the main working years (ages 25-59); and (iii) the net increase in female labor force participation was channelled entirely into industrial employment.
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