Retirement, Home Production and Labor Supply Elasticities
We show that a life cycle model with home production implies a tight relationship between key preference parameters and the changes in time allocated to home production and leisure at retirement. We derive this relationship and use data from the ATUS to explore its quantitative implications. Our method implies that the intertemporal elasticity of substitution for leisure is quite large, in excess of one and possibly as high as two.
Year of publication: |
2012
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Authors: | Wallenius, Johanna ; Rogerson, Richard |
Institutions: | Society for Economic Dynamics - SED |
Saved in:
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