Showing 1 - 10 of 248
spouses' time to work, leisure, and childcare. In an environment with uncertainty, the allocation of goods and time over the …, spouses' wages, hours of work, and time spent with children to estimate the sensitivity of consumption and time allocation to … supply cross-responses depend on three counteracting forces: complementarity of leisure time, substitutability of time in the …
Persistent link: https://www.econbiz.de/10012453707
We examine the impact of wage stickiness when employment has an effort as well as hours dimension. Despite wages being … sticky wages, but no effort margin. Allowing for responses in effort dramatically improves the ability of a sticky-wage model …
Persistent link: https://www.econbiz.de/10012471475
This paper characterizes the transition dynamics of a continuous-time neoclassical production economy with capital accumulation in which households face idiosyncratic income risk and cannot commit to repay their debt. Therefore, even though a full set of contingent claims that pay out...
Persistent link: https://www.econbiz.de/10015056206
We study the evolution of individual labor earnings over the life cycle using a large panel data set of earnings histories drawn from U.S. administrative records. Using fully nonparametric methods, our analysis reaches two broad conclusions. First, earnings shocks display substantial deviations...
Persistent link: https://www.econbiz.de/10012457753
because the marginal tax rates, in general equilibrium, impact wages, and hence individual utility. The "progressivity" effect …
Persistent link: https://www.econbiz.de/10012455173
Assessing the importance of uninsurable wage risk for individual financial choices faces two challenges. First, the identification of the marginal effect requires a measure of at least one component of risk that cannot be diversified or avoided. Moreover, measures of uninsurable wage risk must...
Persistent link: https://www.econbiz.de/10012455797
The assignment of workers to tasks is an important feature of the organization of production within firms. We study how task allocation across workers changes in response to productivity shocks. Pairing hourly productivity data from a ready-made garments firm with granular data on exposure to...
Persistent link: https://www.econbiz.de/10012479814
find that, consistent with standard theory, these shocks raise relative consumption, deteriorate net exports, and raise the …
Persistent link: https://www.econbiz.de/10012466182
We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects mitigate or amplify economic downturns. To do so, we compare the output of innovative workers who experienced different declines in housing wealth, but who were employed at the...
Persistent link: https://www.econbiz.de/10012453702
-order equivalent in an economy with flexible incentive pay and without bargaining, vis-á-vis an economy with rigid wages. Second, wage … procyclical wages, matches unemployment dynamics in our incentive pay model calibrated to strongly procyclical wages …
Persistent link: https://www.econbiz.de/10014372479