Intertemporal Substitution Money And Aggregate Labor Supply
DOWNLOAD
Download Intertemporal Substitution Money And Aggregate Labor Supply PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Intertemporal Substitution Money And Aggregate Labor Supply book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Intertemporal Substitution Money And Aggregate Labor Supply
DOWNLOAD
Author : Donald H. Dutkowsky
language : en
Publisher:
Release Date : 1998
Intertemporal Substitution Money And Aggregate Labor Supply written by Donald H. Dutkowsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
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.
Labor Supply And Aggregate Functions
DOWNLOAD
Author : Robert Ernest Hall
language : en
Publisher:
Release Date : 1979
Labor Supply And Aggregate Functions written by Robert Ernest Hall and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business cycles categories.
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
Intertemporal Substitution In Macroeconomics
DOWNLOAD
Author : Ali Dib
language : en
Publisher:
Release Date : 2005
Intertemporal Substitution In Macroeconomics written by Ali Dib and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Employment (Economic theory) categories.
"The hypothesis of intertemporal substitution in labour supply has a history of empirical failure when confronted with aggregate time-series data. The authors show that a two-dimensional labour supply model, adapted to an environment with money as originally proposed by Lucas and Rapping (1969) and Lucas (1972), performs very well. The overidentifying restrictions implied by the model are far from rejected. The estimated parameters of preferences are generally stable and meaningful. Furthermore, the estimated wage elasticities of labour supply are much higher than previously found in the literature. "--pub. website.
Intertemporal Labor Supply
DOWNLOAD
Author : David Edward Card
language : en
Publisher:
Release Date : 1991
Intertemporal Labor Supply written by David Edward Card and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business cycles categories.
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.
Intertemporal Substitution In Labour Supply
DOWNLOAD
Author : Tony S. Wirjanto
language : en
Publisher:
Release Date : 1992
Intertemporal Substitution In Labour Supply written by Tony S. Wirjanto and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Intertemporal Substitution In Macroeconomics Evidence Of A Two Dimensional Labour Supply Mode With Money
DOWNLOAD
Author : Phaneuf, Louis
language : en
Publisher:
Release Date : 2005
Intertemporal Substitution In Macroeconomics Evidence Of A Two Dimensional Labour Supply Mode With Money written by Phaneuf, Louis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Labor supply categories.
On Intertemporal Substitution And Aggregate Labour Supply
DOWNLOAD
Author : George Alogoskoufis
language : en
Publisher:
Release Date : 1986
On Intertemporal Substitution And Aggregate Labour Supply written by George Alogoskoufis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Labor supply categories.
Intertemporal Substitution In Labor Supply
DOWNLOAD
Author : Joseph Altonji
language : en
Publisher:
Release Date : 1986
Intertemporal Substitution In Labor Supply written by Joseph Altonji and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Consumption (Economics) categories.
Intertemporal Substitution In Labor Supply
DOWNLOAD
Author : Joseph G. Altonji
language : en
Publisher:
Release Date : 1984
Intertemporal Substitution In Labor Supply written by Joseph G. Altonji and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Consumption (Economics) categories.
Substitution Over Time
DOWNLOAD
Author : Casey B. Mulligan
language : en
Publisher:
Release Date : 1998
Substitution Over Time written by Casey B. Mulligan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Labor supply categories.
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