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Labor Supply and Taxation$
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Richard Blundell, Andreas Peichl, and Klaus F. Zimmermann

Print publication date: 2016

Print ISBN-13: 9780198749806

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780198749806.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 October 2021

A Life-Cycle Consistent Empirical Model of Family Labor Supply Using Cross-Section Data

A Life-Cycle Consistent Empirical Model of Family Labor Supply Using Cross-Section Data

Chapter:
(p.85) 4 A Life-Cycle Consistent Empirical Model of Family Labor Supply Using Cross-Section Data
Source:
Labor Supply and Taxation
Author(s):

Richard Blundell

Ian Walker

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198749806.003.0005

This chapter presents and estimates models of family labour supply which allows for quite general effects of relative wages and demographic variables on within period behaviour. The estimated models confirm the need for a flexible representation of preferences over time and goods. The hours of work of women in the sample appear to be much more responsive to changes in marginal wage and income variables compared with for men. Simple models such as the Linear Expenditure System, which implies linear earnings equations, are easily rejected by the data in that they restrict the interaction of demographic and economic variables. The resulting estimates for the presented models were found to track the large variety of observed behaviour across different subsamples relatively well, and the estimated elasticities were generally found to be consistent with economic theory, specifically with life cycle optimising behaviour under intertemporal separability and uncertainty.

Keywords:   family labour supply, demographic variables, period behaviour, preferences, time, goods, life cycle optimising behaviour, intertemporal separability, uncertainty

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