Policies for Early Childhood Skills Formation: Accounting for Parental Choices and Noncognitive Skills
Journal of the European Economic Association · 2025 · [{"name": "Iacopo Morchio", "affiliation": ["University of Bristol"]}]
中文摘要
摘要 儿童津贴政策在儿童技能发展方面的回报是多少？回答这一问题既需要一套关于家庭所面临权衡的理论, 也需要一套现实的技能形成技术。我构建了一个父母选择模型, 将 Cunha、Heckman 和 Schennach(2010)所估计的认知与非认知技能形成技术嵌入其中, 其特征包括对子女的风险投资、时间使用权衡、特质性收入风险以及借贷约束。将非认知技能纳入考虑意味着父母投资的有效性更高, 因此政策回报高于文献中此前的估计。
Abstract
Abstract What are the returns in terms of children’s skills development to child allowance policies? Answering this question requires a theory of the trade-offs faced by households, as well as a realistic technology of skills formation. I build a model of parental choices that embeds the technology of cognitive and non-cognitive skills formation estimated by Cunha, Heckman, and Schennach (2010), featuring risky investment in children, time use trade-offs, idiosyncratic income risk, and borrowing constraints. Accounting for non-cognitive skills implies higher effectiveness of parental investments, and therefore higher policy returns than previously estimated in the literature.