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Estimating Labor-Supply Elasticities with Joint Borrowing Constraints of Couples
Bredemeier, Christian - 2016
Estimates of Frisch labor-supply elasticities are biased in the presence of borrowing constraints. We show that this estimation bias is less pronounced for secondary than for primary earners. The reason is that, in households with two earners and joint borrowing constraints, wage-rate...
Persistent link: https://www.econbiz.de/10012981501
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Labor Income Share Dynamics with Variable Elasticity of Substitution
Paul, Saumik - 2019
The accumulation principle suggests that complementarity between capital and labor forces the labor income share to rise in the presence of capital accumulation. The CES model estimates using data from 20 Japanese industries between 1970 and 2012 explain the same outcome but with substitutable...
Persistent link: https://www.econbiz.de/10012867988
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A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs : An Application of the Morishima Elasticity of Substitution
Paul, Saumik - 2019
The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...
Persistent link: https://www.econbiz.de/10012870261
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The Value of Leisure Synchronization
Georges-Kot, Simon; Goux, Dominique; Maurin, Eric - 2022
This paper explores the extent to which workers are willing to trade hours worked for leisure time shared with their … spouse. This parameter is essential to properly assess contemporary trends in the regulation of work and leisure time. We use … but we show that a large fraction of them substitute a day of unpaid leisure for a day of paid work whenever their spouse …
Persistent link: https://www.econbiz.de/10014030821
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The Frisch Elasticity in the Mercosur Countries : A Pseudo-Panel Approach
González, Roberto - 2011
This paper provides estimates for the Mercosur countries of the Frisch elasticity – i.e., the elasticity of substitution between worked hours and real wages holding constant the marginal utility of wealth. We find a strong heterogeneity, with estimated elasticities ranging from 12.8 in...
Persistent link: https://www.econbiz.de/10013120132
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Estimating Time Preferences for Leisure
Bigoni, Maria; Dragone, Davide; Luchini, Stéphane; … - 2021
(leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without …-monetary rewards (negative time preferences for leisure). These results cannot be explained by personal timetables and heterogeneous …
Persistent link: https://www.econbiz.de/10013216566
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Risk and Saving in Two-Person Households : More Scope for Precautionary Saving
Apps, Patricia F. - 2012
The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...
Persistent link: https://www.econbiz.de/10013099761
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The Disappearing Gender Gap : The Impact of Divorce, Wages, and Preferences on Education Choices and Women's Work
Fernández, Raquel - 2011
Women born in 1935 went to college significantly less than their male counterparts and married women's labor force participation (LFP) averaged 40% between the ages of thirty and forty. The cohort born twenty years later behaved very differently. The education gender gap was eliminated and...
Persistent link: https://www.econbiz.de/10013119017
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Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets
Dinlersoz, Emin - 2016
Young and small firms are typically matched with younger and nonemployed individuals, and they provide these workers with lower earnings compared to other firms. To explore the mechanisms behind these facts, a dynamic model of entrepreneurship is introduced, where individuals can choose not to...
Persistent link: https://www.econbiz.de/10012999532
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Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk
Faia, Ester; Kudlyak, Marianna; Shabalina, Ekaterina - 2022
Occupational specificity of human capital motivates an important role of occupational reallocation for the economy's response to shocks and for the dynamics of inequality. We introduce occupational mobility, through a random choice model with dynamic value function optimization, into a...
Persistent link: https://www.econbiz.de/10014084048