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In this report, we combine theory and empirical estimates for how labor earnings respond to changes in tax rates and …
Persistent link: https://www.econbiz.de/10013438713
Housing is a long-lived asset whose value is sensitive to variations in long-term growth and interest rates. When a large fraction of the population is leveraged, housing price fluctuations cause large-scale redistribution and consumption volatility. We examine policies to mitigate the impact of...
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We document large differences in lifetime hours of work using data from the NLSY79 and argue that these differences are an important source of inequality in lifetime earnings. To establish this we develop and calibrate a rich heterogeneous agent model of labor supply and human capital...
Persistent link: https://www.econbiz.de/10015072938
We consider the collective model of labor supply with marketable domestic production. We first show that, if domestic production is mistakenly ignored, the "collective" indirect utilities that are retrieved from observed behavior will be unbiased if and only if the profit function is additive....
Persistent link: https://www.econbiz.de/10013318665
data from Germany on couples, we control for fixed household specific effects to address the concern that retirement … home production done by the partner. The fall in household income at retirement of one of the partners is largely … compensated by an increase in total household production. …
Persistent link: https://www.econbiz.de/10011289980
In this paper an empirical model is developed where the collective household model is used as a basic framework to … describe the time allocation problem. The collective model views household behavior as the outcome of maximizing a household … the main accent still lies on the development of theory. The novelty of this paper is that we empirically estimate the two …
Persistent link: https://www.econbiz.de/10011346466