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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
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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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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
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Human capital and the intertemporal substitution for leisure : empirical evidence for Spain
Cutanda Tarin, Antonio; Sanchis Llopis, Juan Alberto - In: Portuguese economic journal 22 (2023) 3, pp. 377-396
Persistent link: https://www.econbiz.de/10014336500
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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/10012022772
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Capital skill substitutability and the labor income share : identification using the Morishima elasticity of substitution
Paul, Saumik - 2018
The relationship between a declining labor income share and a falling relative price of capital requires capital and labor to be gross substitutes at the aggregate level (i.e., σ-Agg1). We argue that this restriction can be relaxed if we distinguish labor by skills and identify differential...
Persistent link: https://www.econbiz.de/10011843932
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Using Micro Data to Estimate the Intertemporal Substitution Elasticity for Labor Supply in an Implicit Contract Model
Ham, John C.; Reilly, Kevin T. - 2006
and hours of work. Further, the price of leisure is the marginal product of labor or the shadow wage, which differs from …
Persistent link: https://www.econbiz.de/10014056283
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Chapter 4. The Macroeconomics of Time Allocation
Aguiar, M.; Hurst, E. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 203-253). 2016
care, and leisure. The chapter concludes with a discussion of why these patterns are important to macroeconomics and spells …
Persistent link: https://www.econbiz.de/10014024263
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Elasticity of Intertemporal Substitution : An Investigation in Iran
Einian, Majid - 2019
We present estimates of the Elasticity of Intertemporal Substitution (EIS) for Iranian households using synthetic cohort panels based on household micro-data. Results show significant difference with the common values used in Dynamic Stochastic General Equilibrium (DSGE) models which are...
Persistent link: https://www.econbiz.de/10012864465
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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