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I analyze two extensions to the standard model of life cycle labor supply that feature operative choices along both the intensive and extensive margin. The first assumes that individuals face different continuous wage-hours schedules. The second assumes that all work must be coordinated across...
Persistent link: https://www.econbiz.de/10013134860
-sectional distribution of usual weekly hours and hourly wages. First, usual weekly hours are heavily concentrated around 40 hours, while at … wages are non-monotonic across the usual hours distribution, with a peak for those working 50 hours. The novel feature of …
Persistent link: https://www.econbiz.de/10012842474
We build a life cycle model of labor supply that incorporates changes along both the intensive and extensive margin and use it to assess the consequences of changes in tax and transfer policies on equilibrium hours of work. We find that changes in taxes have large aggregate effects on hours of...
Persistent link: https://www.econbiz.de/10012760196
displaying balanced growth. The key feature of the utility function is an income effect (of higher wages) that slightly outweighs …
Persistent link: https://www.econbiz.de/10012992666
Economists have long debated over what labor supply has to do with fluctuations in hours worked. This paper uses a time series of cross-sections from the 1964-88 Current Population Surveys to study whether microeconomic intertemporal substitution models can explain time series fluctuations in...
Persistent link: https://www.econbiz.de/10013218824
, theory, casual empiricism and survey data suggest that many workers are not free to vary the hours within a job. Consequently …
Persistent link: https://www.econbiz.de/10013236813
heterogeneity, job-specific error components in both wages and hours, and measurement error. We use the model to address a number of … important questions in labor economics, including the source of the experience profile of wages, the response of job changes to …-specific error components in wages and hours …
Persistent link: https://www.econbiz.de/10012764833
This paper presents an empirical analysis of changes in individual earnings and hours over time. Using longitudinal data from three panel surveys,we catalogue the main features of the covariance structure of changes in earnings and hours. We then present an interpretation of these features in...
Persistent link: https://www.econbiz.de/10013220819
Major strands of recent macroeconomic theory hinge on the relation of workers' efforts to their wages, but there has … include detailed time diaries to examine how changes in the use of time on the job affect wages. Additional time spent by the …
Persistent link: https://www.econbiz.de/10013245323
second moments of the joint distribution over individual wages, consumption and hours …
Persistent link: https://www.econbiz.de/10012773175