An Empirical Model of Labor Supply in a Life-Cycle Setting

1981/12/01 by Thomas E. MaCurdy, Thomas MaCurdy · 4 citations
Economics, Econometrics and Finance · #Fiscal Policy and Economic Growth #Economic Growth and Productivity #Labor market dynamics and wage inequality

paper · doi:10.1086/261023

Abstract

This paper formulates and estimates a structural intertemporal model of labor supply. Using theoretical characterizations derived from an economic model of lifetime behavior, a two-step empirical analysis yields estimates of intertemporal and uncompensated substitution effects which provide the information needed to predict the response of hours of work to life-cycle wage growth and shifts in the lifetime wage path.

Cited by

• Labor Supply and Taxes: A Survey
• Labor Supply Elasticity in a Search Friction Model
• The Leisure Gains from International Trade
• Minimum Wages, Efficiency, and Welfare

Related

• The Age-Competency Model to the Study of the Age-Wage Profiles for Workers
• A rich life cycle model of labor supply in Finland
• Labour markets in a Post-Keynesian growth model: the effects of endogenous productivity growth and working time reduction
• A Note on the Estimation of Job Amenities and Labor Productivity
• Cognitive Aging and Labor Share