منابع مشابه
A Labor Supply Elasticity Accord ?
Strong differences of opinion about the labor supply elasticity prevail. One camp infers that the aggregate labor supply elasticity is large because big fluctuations in aggregate hours of work occur in response to small fluctuations in workers’ productivity over the business cycle (Prescott 2005). Another camp points to estimates of low labor supply elasticities from microeconometric studies of...
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When wages increase with work experience, estimation of standard labor supply models that assume exogenous wage formation suffers from omitted variable bias and produces downward-biased estimates of the intertemporal elasticity of substitution (IES). We test this theory in a novel way. Using a large data set of the daily labor supply decisions of Florida fishermen, we identify a sample of highl...
متن کاملFixed Costs, Retirement and the Elasticity of Labor Supply∗
We analyze the forces that can generate retirement in different versions of standard life cycle models of labor supply. While nonconvexities in production can generate retirement, we show that the size of nonconvexities needed increases sharply as the intertemporal elasticity of substitution for labor decreases. ∗We thank Eric French, Steve Davis, Yongsung Chang plus seminar and conference part...
متن کاملFlexible Labor Supply Models
Flexible Labor Supply Models Discrete-choice models of labor supply have become very popular for ex ante evaluations of policy reforms as they easily account for non-convex budget sets. We test the constraints imposed in practice on these models and suggest a fully flexible model that significantly improves fit. JEL Classification: H31, J22
متن کاملDynamic Female Labor Supply
The increase in female employment and participation rates is one of the most dramatic economic changes to have taken place during the last century. However, while the employment rate of married women more than doubled during the last fifty years, that of unmarried women remained almost constant. In order to empirically analyze these trends we divide the paper into two parts: In the first, we em...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2011
ISSN: 0002-8282
DOI: 10.1257/aer.101.3.487