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Modeling labor supply through duality and the Slutsky equation
Ivanov, Ivan; Dobreva, Julia - In: International journal of economic sciences and applied … 3 (2010) 2, pp. 111-122
In the present paper an analysis of the neo-classical optimization model with linear constraints is proposed. By introducing the dual problem it is shown that the solution to the maximization problem is also a solution to the minimization problem. The purely theoretical model proposes a...
Persistent link: https://www.econbiz.de/10009010926
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Modeling Labor Supply Through Duality and the Slutsky Equation
Dobreva, Julia - 2011
In the present paper an analysis of the neo-classical optimization model with linear constraints is proposed. By introducing the dual problem it is shown that the solution to the maximization problem is also a solution to the minimization problem. The purely theoretical model proposes a...
Persistent link: https://www.econbiz.de/10013131109
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Uncertain longevity and investment in education
Sheshinski, Eytan - 2009
It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak. Building on a lifecycle model with uncertain longevity,...
Persistent link: https://www.econbiz.de/10003883894
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Consumption Inequality and Family Labor Supply
Blundell, Richard W. - 2014
In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for the dynamics of consumption, hours, and earnings...
Persistent link: https://www.econbiz.de/10013057673
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Government Policy and Labor Supply with Myopic or Targeted Savings Decisions
Kaplow, Louis - 2015
A central justification for social insurance and for other policies aimed at retirement savings is that individuals may fail to make adequate provision during their working years. Much research has focused on myopia and other behavioral limitations. Yet little attention has been devoted to how...
Persistent link: https://www.econbiz.de/10013019561
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Growth and Labor Supply in the Presence of Habit Formation in Consumption
Faria, Joao Ricardo - 2002
This paper examines a model with habit formation in consumption. The model leads to higher equilibrium values in consumption, output, capital accumulation and labor supply than the neoclassical growth model with elastic labor supply. Comparative static analysis shows that an increase in the...
Persistent link: https://www.econbiz.de/10014123804
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Myopia and the Effects of Social Security and Capital Taxation on Labor Supply
Kaplow, Louis - 2006
Myopia is increasingly believed to be a significant determinant of behavior and also plays a central role in justifications for social security and policies toward the taxation of capital. It is important, however, to account for labor supply effects, particularly in light of the preexisting...
Persistent link: https://www.econbiz.de/10014056233
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The Cross-Sectional Implications of Rising Wage Inequality in the United States
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004
This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross-sectional distributions of hours worked, consumption and earnings. From 1967 to 1996 cross-sectional dispersion of earnings increased more than wage dispersion, due to a rise in the...
Persistent link: https://www.econbiz.de/10005656181
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Anticipation of deteriorating health and information avoidance
Schünemann, Johannes; Strulik, Holger; Trimborn, Timo - 2019
detrimental behavioral responses. We explore this idea in the context of endogenous health and aging. We integrate physiological … state of health affects health spending, life expectancy, and the value of life. In counterfactual computational experiments … lifetime utility, health investments, and longevity. We then use the model to contribute to the literature on information …
Persistent link: https://www.econbiz.de/10011984408
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Anticipation of Deteriorating Health and Information Avoidance
Schünemann, Johannes; Strulik, Holger; Trimborn, Timo - 2019
detrimental behavioral responses. We explore this idea in the context of endogenous health and aging. We integrate physiological … state of health affects health spending, life expectancy, and the value of life. In counterfactual computational experiments … lifetime utility, health investments, and longevity. We then use the model to contribute to the literature on information …
Persistent link: https://www.econbiz.de/10012099075