Download or read book Intertemporal Substitution in Labor Supply written by Joseph Altonji and published by . This book was released on 1986 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution in Labor Supply written by Joseph G. Altonji and published by . This book was released on 1984 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Labor Supply written by David Edward Card and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lifecycle labor supply model has been proposed as an explanation for various dimensions of labor supply, including movements over the business cycle, changes with age, and within-person variation over time. According to the model, all of these elements are tied together by a combination of intertemporal substitution effects and wealth effects. This paper offers an assessment of the model's ability to explain the main components of labor supply, focusing on microeconomic evidence for men.

Download or read book Intertemporal Substitution and Household Production in Labor Supply written by Guillermo Felices and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution in Macroeconomics written by N. Gregory Mankiw and published by . This book was released on 1982 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model :f this type. In particular, we assume that the observed fluctuations correspond to the decisions of an optimizing representative individual. This individual has a stable utility function which is additively separable over time but not necessarily additively separable in consumption and leisure. We estimate three first order conditions which represent three margins on which the individual is optimizing. He can trade off present consumption for future consumption, present leisure for future leisure and present consumption for present leisure. Our results show that the aggregate U.S. data are extremely reluctant to be characterized by a model of this type. Not only are the overidentifying restrictions statistically rejected but, in addition, the estimated utility function is often not concave. Even when it is concave the estimates imply that either consumption or leisure is an inferior good.

Download or read book Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply written by Ali Elminejad and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Publication and Identification Biases in Measureing the Intertemporal Substitution of Labor Supply written by M. Ali Elminejad and published by . This book was released on 2021 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertemporal substitution (Frisch) elasticity of labor supply governs the predictions of real business cycle models and models of taxation. We show that, for the extensive margin elasticity, two biases conspire to systematically produce large positive estimates when the elasticity is in fact zero. Among 723 estimates in 36 studies, the mean reported elasticity is 0.5. One half of that number is due to publication bias: larger estimates are reported preferentially. The other half is due to identification bias: studies with less exogenous time variation in wages report larger elasticities. Net of the biases, the literature implies a zero mean elasticity and, with 95% confidence, is inconsistent with calibrations above 0.25. To derive these results we collect 23 variables that reflect the context in which the elasticity was obtained, use nonlinear techniques to correct for publication bias, and employ Bayesian and frequentist model averaging to address model uncertainty.

Download or read book The Intertemporal Substitution Model of Labor Supply in an Open Economy written by Joao Ricardo Faria and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real interest rate and real exchange rate from a standard open economy optimizing representative agent model. The paper tests the steady state solution of the model for the US and, in order to avoid the Lucas critique, it tests for the superexogeneity of the interest rate and exchange rate. In accordance with the theory, the empirical evidence is supportive of the intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique.

Download or read book The Intertemporal substitution Hypothesis is Alive and Well but Hiding in the Data written by Jean Kimmel and published by . This book was released on 1993 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution Money and Aggregate Labor Supply written by Donald H. Dutkowsky and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the macro-econometric credibility of the Intertemporal Substitution Hypothesis. It extends the usual formulation by considering money within the representative consumer's life cycle decision. We also provide measures of the real wage rate and asset returns based upon interpretation of the constraint as consumption-saving behavior. Estimation with quarterly U.S. data generates plausible and significant estimates of the structural parameters. The findings indicate elastic labor supply response to the wage rate but mixed results with respect to nominal returns. The estimates are reasonably robust to alternative measures of consumption, money, leisure, and rates of return.

Download or read book Intertemporal Substitution in Labour Supply written by Tony S. Wirjanto and published by . This book was released on 1992 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution and Labour Supply with Time Separable Preferences written by George S. Alogoskoufis and published by . This book was released on 1985 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution and Labor Supply in Japan written by Dick Beason and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers whether Japanese labor market data are consistent with the intertemporal substitution hypothesis. The Japanese labor market data are first tested for broad conformity with the hypothesis using the methodology of Ashenfelter and Card (1982). The results from this analysis are encouraging. Next, the hypothesis is tested using the methodology of Altonji (1982). The results from this analysis are not generally favorable to the hypothesis. Finally, an ad hoc test of whether the bonus should be considered a form of wage payment is nested in the test of the intertemporal substitution hypothesis, with the result that the bonus does not appear to elicit the same labor supply behavior as the base wage.

Download or read book Substitution Over Time written by Casey B. Mulligan and published by . This book was released on 1998 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most studies of the intertemporal substitution of work use life cycle data and, from those studies, many have concluded that intertemporal labor substitution is unimportant for macroeconomics. This paper takes another look at life cycle data and argues that a consideration of measurement errors, taxes, on-the-job training the margins' composing aggregate labor supply over the life cycle suggests that substitution over time may be very important for macro fluctuations. The life cycle data used includes fairly standard male cross-section and panel data samples as well as a sample of women experiencing the termination of AFDC benefits as their youngest child turns 18 years old

Download or read book Seasonal Labor Supply and the Intertemporal Elasticity of Substitution written by Emmanuel Skoufias and published by . This book was released on 1991 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Anticipated and Unanticipated Wage Changes Wage Risk and Intertemporal Labour Supply written by Luigi Pistaferri and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recreation Home Production and Intertemporal Substitution of Female Labor Supply written by Jorge González-Chapela and published by . This book was released on 2011 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: