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Author : Olivier Bargain
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (755 download)
Download or read book Labor Supply Elasticities in Europe and the US written by Olivier Bargain and published by . This book was released on 2011 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan Manning
Publisher : Princeton University Press
ISBN 13 : 1400850673
Total Pages : 414 pages
Book Rating : 4.4/5 (8 download)
Download or read book Monopsony in Motion written by Alan Manning and published by Princeton University Press. This book was released on 2013-12-03 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Author : Robert McClelland
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (123 download)
Download or read book A Review of Recent Research on Labor Supply Elasticities written by Robert McClelland and published by . This book was released on 2012 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper updates a review conducted by CBO in 1996 in which the agency evaluated the academic research on the effects of changes in after-tax wages on labor supply in the U.S. economy. That review concluded that substitution elasticities were larger in absolute value than income elasticities and that the decision to work was more responsive to after-tax wages than was the choice of hours. In this update, we find that for men and single women, estimates of substitution elasticities have increased, and income elasticities still appear to be smaller in absolute value than substitution elasticities. We also find that labor supply elasticities of married women have fallen substantially in the last three decades, although they are still higher than the elasticities of men and unmarried women. Based on our review, the elasticities of broad measures of income (total income less capital gains) from tax return data are in most instances consistent with the labor supply elasticities estimated using survey data. We find little compelling evidence that high-income taxpayers have substantially higher elasticities with respect to their labor input than other taxpayers: While some studies have estimated higher elasticities of broad income among high-income taxpayers, those results appear to reflect those taxpayers’ greater ability to time their income. In contrast, we find evidence that low-income workers have higher elasticities of labor supply than other workers, especially in the component of their labor response that reflects movement in and out of the workforce.
Author : Raj Chetty
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (255 download)
Download or read book A Bound on Risk Aversion Using Labor Supply Elasticities written by Raj Chetty and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that existing evidence on labor supply behavior places an upper bound on risk aversion in the expected utility model. I derive a formula for the coefficient of relative risk aversion (g) in terms of (1) the ratio of the income elasticity of labor supply to the wage elasticity and (2) the degree of complementarity between consumption and labor. I bound the degree of complementarity using data on consumption choices when labor supply varies randomly across states. Using labor supply elasticity estimates from thirty-three studies, I find a mean estimate of g = 1. I then show that generating g > 2 would require that wage increases cause sharper reductions in labor supply than estimated in any of the studies.
Author : Richard Barry Freeman
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.3/5 (9 download)
Download or read book Elasticities of Demand for Educated Labor and Elasticities of Supply of Educated Labor written by Richard Barry Freeman and published by . This book was released on 1982 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews a variety of estimates of the demand and supply elasticities of educated labor. It finds that elasticities of substitution between more and less educated labor range fran 1.0 to 2.0 and that elasticities of the supply of students to colleges are also on the order of 1.0 to 2.0 while elasticities of supply to specific professions are on the order of 2.0 to 3.0. With elasticities of this magnitude, wages and employment depend on both supply and demand factors, with shifts of either schedule influencing both market outcome variables.
Author : Richard Blundell
Publisher : Oxford University Press
ISBN 13 : 0191066745
Total Pages : 488 pages
Book Rating : 4.1/5 (91 download)
Download or read book Labor Supply and Taxation written by Richard Blundell and published by Oxford University Press. This book was released on 2016-03-18 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents Richard Blundell's outstanding research on the modern economic analysis of labor markets and public policy reforms. Professor Blundell's hugely influential work has enhanced greatly our understanding of how individuals' behavior on the labor market respond to taxation and social policy influence. Edited by IZA, this volume brings together the author's key papers, some co-authored and some unpublished, with new introductions and an epilogue. It covers some of the main research insights in the study of labor supply. The question of how individuals adapt their behavior in response to policy changes is one of the most investigated topics in empirical labor and public economics. Do people reduce their working hours if governments decide to raise taxes? Might they even withdraw completely from the labor market? Labor supply estimations are extensively used for various policy analyses and economic research. Labor supply elasticities are key information when evaluating tax-benefit policy reforms and their effect on tax revenue, employment, and redistribution. The chapters cover empirical and theoretical developments as well as applications to tax and welfare reform, and each represents a substantive research contribution from Blundell's publications in top research outlets.
Author : Michael P. Keane
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (753 download)
Download or read book Reconciling Micro and Macro Labor Supply Elasticities written by Michael P. Keane and published by . This book was released on 2011 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: The response of aggregate labor supply to various changes in the economic environment is central to many economic issues, especially the optimal design of tax policies. This paper surveys recent work that uses structural models and micro data to evaluate the size of this response. Whereas the earlier literature on this issue often concluded that aggregate labor supply elasticities were small, recent work has identified three key reasons that the aggregate elasticity may be quite large. First, earlier estimates abstracted from several key features, including human capital accumulation, leading to estimates that are dramatically negatively biased. Second, failure to understand that aggregate labor supply adjustments can occur along both the hours per worker and employment margins has led economists to misinterpret the implications of previous estimates for aggregate labor supply. Third, structural estimation of responses along the extensive (i.e., employment) margin are typically quite large -- National Bureau of Economic Research web site.
Download or read book Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alois Kneip
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (868 download)
Download or read book Aggregation and Labor Supply Elasticities written by Alois Kneip and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a statistical aggregation procedure for the Frisch elasticity of labor supply. It allows for worker heterogeneity and is applicable to an individual labor supply function with non-employment as a possible outcome. Subjecting all offered or paid wages to an unanticipated temporary change we analytically derive the aggregate elasticity and its main components. We quantify each component using individual-specific data from the German SOEP for males at working-age. We measure the hours' adjustment along the intensive and the extensive margin with the help of observed wages and reservation wages, respectively. The estimated aggregate Frisch elasticity varies over time.
Author : Michiel Evers
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book What Explains the Variation in Estimates of Labour Supply Elasticities? written by Michiel Evers and published by . This book was released on 2005 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bespreking van de resultaten van een meta-analyse van empirische schattingen in de literatuur van de ongecompenseerde arbeidsaanbodelasticiteit.
Author : Martin Lapinsky
Publisher :
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.:/5 (2 download)
Download or read book A Study in Occupational Labor Supply Elasticities written by Martin Lapinsky and published by . This book was released on 1966 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Claus C. Pörtner
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (13 download)
Download or read book What Labor Supply Elasticities Do Employers Face? Evidence From Field Experiments written by Claus C. Pörtner and published by . This book was released on 2019 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide experimental evidence on the labor supply elasticity faced by employers, which is an essential measure of employer market power. We offered two different types of jobs, each with large randomized variations in pay, and observed the amount of work performed. We find no evidence of the strong employer market power suggested by prior research, with our elasticities close to unity. Furthermore, elasticities based on the total amount of work are significantly larger than if we use worker-level data as prior studies have done. Finally, elasticities differ by job type, suggesting that worker characteristics play a crucial role.
Download or read book Labor Supply Elasticities in Europe and the US. written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Olivier Bargain
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (868 download)
Download or read book Steady-State Labor Supply Elasticities written by Olivier Bargain and published by . This book was released on 2013 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gabriel Martinez
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book An Estimation of Labor Supply Elasticities for Mexico written by Gabriel Martinez and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The empirical values of the response of labor supply to changes in wages, taxes, fertility, family structure and social insurance are of central importance to deal with many policy issues. This article presents estimates of the parameters of a labor supply function are presented in this article. The specification of the labor supply function has been varied in three main forms to reach estimates. First, within the framework of the linear IV model, we can vary the set of exogenous regressors, the set of exogenous instruments, and the set of regressors made endogenous (that is, instrumented). Second, we introduce models that consider explicitly the censored nature of variables. Finally, we compare the results obtained from a cross-sectional dataset, and a sample that has longitudinal features. After choosing a baseline specification we found that the variations in estimates due to changes in statistical methods or do not seem to be very important. Thus, the wage-elasticity of hours worked is similar across IV specifications, models that correct for censoring and models that use longitudinal information. The baseline models imply near-zero wage-elasticities for both genders. For men, the impact of having children of all ages at home is large and positive: males with children work more. For women there is a negative impact of having children, and the small-children variable has a larger impact on hours worked. The variable for other family income has a positive effect on hours of both men and women.
Author : Sachiko Kuroda
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (318 download)
Download or read book Estimating Frisch Labor Supply Elasticity in Japan written by Sachiko Kuroda and published by . This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Using Japanese data from the 1990s aggregated by prefecture, age group, and sex, we estimate Frisch labor supply elasticity, which has been seldom estimated in Japan. The change in labor supply can be decomposed into two labor-supply behaviors: extensive margin, indicating workers' entry and exit from the labor market; and intensive margin, indicating changes in hours of work in response to a wage change. Our estimates of the Frisch elasticity on the extensive and intensive margins combined are in the range of 0.2 to 0.7 for males, 1.3 to 1.5 for females, and 0.7 to 1.0 for both sexes. Our estimates of the Frisch elasticity on only the intensive margin are in the range of 0.1 to 0.2 for all three categories. These results suggest that extensive margin explains the bulk of labor-supply changes in Japan. As for the changes in the estimates of the Frisch elasticity in Japan from the 1990s, it has been either unchanged or in a declining trend on the extensive and intensive margins combined, either unchanged or in a slight rising trend on only the intensive margin, and in a declining trend on only the extensive margin."--Authors' abstract.
Author : C. V. Brown
Publisher : Routledge
ISBN 13 : 0429655851
Total Pages : 402 pages
Book Rating : 4.4/5 (296 download)
Download or read book Taxation and Labour Supply written by C. V. Brown and published by Routledge. This book was released on 2018-12-07 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1981. This book reports on a decade of research into the effects of taxation on the supply of labour. In addition to their work in making labour supply estimates, the study explores a number of the ways labour supply estimates can be used. When budget constraints are non-linear it is not possible to estimate the effects of (tax) or other policy changes from knowledge of labour supply elasticities alone, and it is necessary to re-estimate the original model used to derive the estimates. The implications of labour supply estimates for the study of inequality and optimal taxation are considered. Macro-economic models of the economy typically omit labour supply functions or include functions which are inconsistent with micro-economic work on labour supply. This book will appeal to academic economists, senior students and policy-makers in the field of public finance and labour economics, who will find much of interest from both the theoretical and policy standpoints.
