@article{5c2d91434cf74e92b4c2c1867164a69f,
title = "The determinants of bargaining power in an empirical model of transfers between adult children, parents, and in-laws for South Korea",
abstract = "We derive a bargaining model of transfers between adult children and their parents, and then estimate the model using data from South Korea. Our analysis extends the literature on family bargaining by i) arguing that transfers from the couple represent semiprivate consumption (e.g. it is plausible that the wife cares more about her parents than about the husband's parents, and vice-versa) and ii) using results from laboratory experiments to help identify the model.We find that women have slightly more bargaining power than men in the couple's decision making. We also find that when an adult child receives an extra dollar of income, she transfers half of it to her parents; this result is consistent with previous work. Finally, we reject the null hypothesis that bargaining power within the family depends only on the potential wage of each spouse.",
keywords = "Bargaining, Family transfers, Korea, Marriage market, Maximum likelihood estimation, Old-age support",
author = "Ham, {John C.} and Heonjae Song",
note = "Funding Information: We thank Xiaochen Bian, Eleanor Choi, Monica Das Gupta, Hanan Jacoby, Tarun Jain, John Kagel, Saima Khan, Sooyhung Lee, Maurizio Mazzocco, Jeffrey Nugent, Aloysius Siow, John Strauss, Naomi Utgoff and Lise Vesterlund for many important conversations and comments, as well as seminar participants at the Korea Development Institute, the Korea Institute for International Economic Policy, the Korea Institute of Public Finance, the Korea Labor Institute, the Maryland, NEUDC (2009), the Seoul Summer Economics Conference at Seoul National University (2010), the Econometric Society World Congress (2010) and the USC for helpful comments. Two anonymous referees and a co-editor made numerous comments that substantially improved the paper. We would also like to thank Professor H. Kazianga for providing us with his computer program. Ham's research was partially supported by the NSF ( SES 0627934 ). We are responsible for all errors, and this paper reflects the views of the authors and in no way represents the views of the NSF. ",
year = "2014",
month = jul,
doi = "10.1016/j.jdeveco.2014.03.004",
language = "English (US)",
volume = "109",
pages = "73--86",
journal = "Journal of Development Economics",
issn = "0304-3878",
publisher = "Elsevier B.V.",
}