研究者情報 | 神奈川大学

イワタ　シンイチロウ Iwata Shinichiro 岩田　真一郎所属神奈川大学経済学部経済学科/現代ビジネス学科神奈川大学大学院経済学研究科経済学専攻（公共政策コース）職種教授
言語種別	英語
発行・発表の年月	2017/12
形態種別	学術雑誌
査読	査読あり
標題	The asymmetric housing wealth effect on childbirth
執筆形態	共著
掲載誌名	REVIEW OF ECONOMICS OF THE HOUSEHOLD
出版社・発行元	SPRINGER
巻・号・頁	15(4),pp.1373-1397
著者・共著者	Shinichiro Iwata,Michio Naoi
概要	The literature has shown that housing gains and losses of the same size have identical quantitative effects on fertility of homeowners. In comparison, the reference-dependent preferences in prospect theory suggest that people care more about losses than equivalent gains, leading to an asymmetric effect of housing wealth on childbirth. We propose a theoretical model where household utility depends on both childbirth and housing wealth. In this model, the utility from housing wealth is reference dependent in the sense that we assume the housing value in the previous year is the reference. The model suggests that a decrease in housing wealth would have a larger impact on the probability of childbirth than an equivalent increase. We test this theoretical prediction using longitudinal data on Japanese households. The empirical results are consistent with the theoretical prediction.
DOI	10.1007/s11150-016-9355-8
ISSN	15695239