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Bundling time and goods : implications for hours dispersion

Fang, Lei; Hannusch, Anne; Silos, Pedro - 2020

We document the large dispersion in hours worked in the cross-section. We account for this fact using a model in which households combine market inputs and time to produce a set of nonmarket activities. To estimate the model, we create a novel data set that pairs market expenditures and time use...

Persistent link: https://www.econbiz.de/10012150238

Will the Consumption Externalities' Effects in the Ramsey Model Please Stand Up?

Wendner, Ronald - 2010

This paper investigates household decisions when individual utility depends on a consumption reference level. The desire to “keep up with the Joneses'' represents one such example. The prior literature shows that, in a Ramsey model, consumption externalities have no impact on steady state...

Persistent link: https://www.econbiz.de/10014194728

The Rate of Interest or the Rate of Return : Estimating Intertemporal Elasticity of Substitution

Dacy, Douglas; Hasanov, Fuad - 2005

This paper investigates whether the rate of interest such as the Treasury bill rate or the rate of return such as the return on a household portfolio is more relevant to the household's intertemporal decision making. In a current era, households are diversifiers (to use Tobin's 1958 term) and...

Persistent link: https://www.econbiz.de/10014061871

Housing, Household Portfolio, and Intertemporal Elasticity of Substitution

Hasanov, Fuad - 2011

This paper investigates the impact of the inclusion of housing in a household portfolio on household's intertemporal decision making. Residential housing is one of the principal assets households hold, and thus changes in housing return can affect household consumption over time. We assess...

Persistent link: https://www.econbiz.de/10014061872

Estimating labor-supply elasticities with joint borrowing constraints of couples

Bredemeier, Christian; Gravert, Jan; Jüßen, Falko - 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/10011543948

Estimating Labor-Supply Elasticities with Joint Borrowing Constraints of Couples

Bredemeier, Christian - 2016

Persistent link: https://www.econbiz.de/10012981501

Accounting for limited commitment between spouses when estimating labor-supply elasticities

Bredemeier, Christian; Gravert, Jan Hendrik; Jüßen, Falko - 2021

The Frisch elasticity of labor supply can be estimated by regressing hours worked on the hourly wage rate, controlling for consumption of the individual worker. However, most household panel surveys contain consumption information only at the household level. We show that proxying individual...

Persistent link: https://www.econbiz.de/10012493758

A Life-Cycle Model of Habitual Dependence in Leisure Demand

Gurdgiev, Constantin - 2008

-persistence of leisure demand. The model establishes a link between the habitual leisure and income effects, which amplifies the … the strength of habit formation. At the same time, the wage elasticity of demand for leisure and the income elasticity of … consumption are shown to be functions of the strength of habit formation. The model concludes that while habitual leisure captures …

Persistent link: https://www.econbiz.de/10012725127

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/10012596211

Social Security and Public Insurance

Börsch-Supan, Axel H. - 2016

When the challenges of population aging are being debated, the uncertain future of pension systems is a topic of high priority and large controversy. The aim of this chapter is not to provide a “consensus view” on social security and public insurance in aging populations but to put structure...

Persistent link: https://www.econbiz.de/10012981855

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