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Intertemporal Substitution Money And Aggregate Labor Supply
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Book Synopsis Intertemporal Substitution, Money, and Aggregate Labor Supply by : Donald H. Dutkowsky
Download or read book Intertemporal Substitution, Money, and Aggregate Labor Supply written by Donald H. Dutkowsky and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the macro-econometric credibility of the Intertemporal Substitution Hypothesis. It extends the usual formulation by considering money within the representative consumer's life cycle decision. We also provide measures of the real wage rate and asset returns based upon interpretation of the constraint as consumption-saving behavior. Estimation with quarterly U.S. data generates plausible and significant estimates of the structural parameters. The findings indicate elastic labor supply response to the wage rate but mixed results with respect to nominal returns. The estimates are reasonably robust to alternative measures of consumption, money, leisure, and rates of return.
Book Synopsis Intertemporal Labor Supply by : David Edward Card
Download or read book Intertemporal Labor Supply written by David Edward Card and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lifecycle labor supply model has been proposed as an explanation for various dimensions of labor supply, including movements over the business cycle, changes with age, and within-person variation over time. According to the model, all of these elements are tied together by a combination of intertemporal substitution effects and wealth effects. This paper offers an assessment of the model's ability to explain the main components of labor supply, focusing on microeconomic evidence for men.
Book Synopsis Intertemporal Substitution in Labor Supply by : Joseph G. Altonji
Download or read book Intertemporal Substitution in Labor Supply written by Joseph G. Altonji and published by . This book was released on 1984 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intertemporal Substitution in Labor Supply by : Joseph Altonji
Download or read book Intertemporal Substitution in Labor Supply written by Joseph Altonji and published by . This book was released on 1986 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intertemporal Substitution in Macroeconomics : Evidence of a Two-dimensional Labour Supply Mode with Money by : Phaneuf, Louis
Download or read book Intertemporal Substitution in Macroeconomics : Evidence of a Two-dimensional Labour Supply Mode with Money written by Phaneuf, Louis and published by . This book was released on 2005 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On Intertemporal Substitution and Aggregate Labour Supply by : George Alogoskoufis
Download or read book On Intertemporal Substitution and Aggregate Labour Supply written by George Alogoskoufis and published by . This book was released on 1986 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intertemporal Substitution in Labour Supply by : Tony S. Wirjanto
Download or read book Intertemporal Substitution in Labour Supply written by Tony S. Wirjanto and published by . This book was released on 1992 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Supply and Aggregate Functions by : Robert Ernest Hall
Download or read book Labor Supply and Aggregate Functions written by Robert Ernest Hall and published by . This book was released on 1979 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues of labor supply are at the heart of macroeconomic explanations of the large cyclical fluctuations of output observed in modern economies. This paper starts with a serious empirical examination of the view that the labor market is always in balance-that every observed combination of employment and compensation is a point of intersection of the relevant supply and demand curves. I will call this the "intertemporal substitution" model of fluctuations. According to this model, workers are willing to shift their hours of work from one year to another in response to modest shifts in relative wages. The paper goes on to point out a strong implication of the pure inter- temporal substitution model, namely, the irrelevance of changes in the money supply for the labor supply function. A model where markets clear instantly ought to obey full monetary neutrality. The data refute this implication absolutely unambiguously. The money stock unambiguously shifts the labor supply function. The pure substitution model seems untenable in the light of this evidence. The paper then turns to explanations of the nonneutrality of money in the short run. According to the most carefully worked out line of thought, monetary shocks cause workers to make inappropriate intertemporal shifts in labor supply, because they lack complete information about the source of aggregate shocks and are forced to respond in the same way to real and nominal disturbances. Finally, the paper turns to the view that, in the short run, labor supply is largely irrelevant to the determination of aggregate employment
Book Synopsis Intertemporal Substitution and Household Production in Labor Supply by : Guillermo Felices
Download or read book Intertemporal Substitution and Household Production in Labor Supply written by Guillermo Felices and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intertemporal Substitution and Labour Supply with Time Separable Preferences by : George S. Alogoskoufis
Download or read book Intertemporal Substitution and Labour Supply with Time Separable Preferences written by George S. Alogoskoufis and published by . This book was released on 1985 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Substitution Over Time by : Casey B. Mulligan
Download or read book Substitution Over Time written by Casey B. Mulligan and published by . This book was released on 1998 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most studies of the intertemporal substitution of work use life cycle data and, from those studies, many have concluded that intertemporal labor substitution is unimportant for macroeconomics. This paper takes another look at life cycle data and argues that a consideration of measurement errors, taxes, on-the-job training the margins' composing aggregate labor supply over the life cycle suggests that substitution over time may be very important for macro fluctuations. The life cycle data used includes fairly standard male cross-section and panel data samples as well as a sample of women experiencing the termination of AFDC benefits as their youngest child turns 18 years old
Book Synopsis The Intertemporal Substitution Model of Labor Supply in an Open Economy by : Joao Ricardo Faria
Download or read book The Intertemporal Substitution Model of Labor Supply in an Open Economy written by Joao Ricardo Faria and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real interest rate and real exchange rate from a standard open economy optimizing representative agent model. The paper tests the steady state solution of the model for the US and, in order to avoid the Lucas critique, it tests for the superexogeneity of the interest rate and exchange rate. In accordance with the theory, the empirical evidence is supportive of the intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique.
Book Synopsis The Intertemporal Substitution Model of Labor Market Fluctuations by : Joseph G. Altonji
Download or read book The Intertemporal Substitution Model of Labor Market Fluctuations written by Joseph G. Altonji and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Intertemporal Elasticity of Substitution by : Jonathan Adam Poeder
Download or read book On the Intertemporal Elasticity of Substitution written by Jonathan Adam Poeder and published by . This book was released on 2007 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates the relationships among the average household's income evolution, consumption patterns, and labor supply decisions using data from the Panel Study of Income Dynamics. Demand studies such as this have, in the past, focused myopically on either labor supply or commodity demand. The conjoined approach taken here is novel in that it considers labor supply and commodity demand simultaneously. By using a Frisch framework for consumption and labor supply, along with estimating a simultaneous equation model, unbiased parameter estimates may be found. Acid that is the ultimate goal; the significance of which includes, but is not limited to, the ability to accurately calculate welfare changes resulting from tax policy adjustment.
Book Synopsis Does Labor Supply Explain Fluctuations in Average Hours Worked? by : Joshua David Angrist
Download or read book Does Labor Supply Explain Fluctuations in Average Hours Worked? written by Joshua David Angrist and published by . This book was released on 1990 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 annual averages. Conditional on a parametric trend, labor supply equations fit the 1975-87 data remarkably well. But estimates for 1963-74 are not robust, and estimated labor supply elasticities are much lower in the earlier period.
Book Synopsis Intertemporal Substitution and Labor Market Fluctuations by : Joseph Gerard Altonji
Download or read book Intertemporal Substitution and Labor Market Fluctuations written by Joseph Gerard Altonji and published by . This book was released on 1981 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Estimating Intertemporal Substitution Elasticities of Home Production by : Kun Nam James Yu
Download or read book Three Essays in Estimating Intertemporal Substitution Elasticities of Home Production written by Kun Nam James Yu and published by . This book was released on 2008 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
