TAILIEUCHUNG - Households as Corporate Firms An Analysis of Household Finance Using Integrated Household Surveys and Corporate Financial Accounting

This monograph emerged from our efforts to study the behavior of the households from the Townsend Thai Monthly Survey. This experience convinced us that imposing an accounting framework and creating financial statements would be a useful, indeed a necessary, first step for the analysis of household finance, especially from high-frequency, monthly data. We believe that this accounting framework will help researchers better define and more accurately measure household income, consumption, saving, and other financial variables, and in the end enhance our understanding of the behavior of the households in developing countries | CO OM Te C toot TV Households as Corporate Firms An AnWyti erf H tebc Vd Fin r ce u vng Integrated Household Surveys and G potato r MKol Accounts Krisiert Samphantharak. Robert M. Townsend Cambridge g 9780521195829 Households as Corporate Firms This investigation proposes a conceptual framework for measurement necessary for an analysis of household finance and economic development. The authors build on and where appropriate modify corporate financial accounts to create balance sheets income statements and statements of cash flow for households in developing countries using integrated household surveys. The authors also illustrate how to apply the accounts to an analysis of household finance that includes productivity of household enterprises capital structure liquidity financing and portfolio management. The conceptualization of this analysis has important implications for measurement questionnaire design the modeling of household decisions and the analysis of panel data. Krislert Samphantharak is an Assistant Professor and the Charles Robins Faculty Scholar in the School of International Relations and Pacific Studies at the University of California San Diego. He is also an affiliate at the Bureau for Research and Economic Analysis of Development BREAD . He received his doctoral degree in economics from the University of Chicago. In addition to his research on household finance other research interests include family business groups the effect of unpredictable corruption on firm investment the effect of sales tax on gasoline prices the effect of a firm s lobby spending on its effective tax rate and the economic development of the economies in Southeast Asia. Robert M. Townsend is the Elizabeth and James Killian Professor of Economics in the Department of Economics at the Massachusetts Institute of Technology. He previously was the Charles E. Merriam Distinguished Service Professor in the Department of Economics at the University of Chicago where .

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