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The paper documents how cyclical fluctuations in market work vary over the life cycle and then assesses the predictions of a life-cycle version of the growth model for those observations. The analysis yields a simple but striking finding. The main discrepancy between the model and that data lies...
Persistent link: https://www.econbiz.de/10005729013
Dynamic general equilibrium models that include explicit household production sectors provide a useful framework within which to analyze a variety of macroeconomic issues. However, some implications of these models depend critically on parameters, including the elasticity of substitution between...
Persistent link: https://www.econbiz.de/10005367621
Persistent link: https://www.econbiz.de/10002556171
The paper documents how cyclical fluctuations in market work vary over the life cycle and then assesses the predictions of a life-cycle version of the growth model for those observations. The analysis yields a simple but striking finding. The main discrepancy between the model and that data lies...
Persistent link: https://www.econbiz.de/10014223065
Persistent link: https://www.econbiz.de/10003769855
Persistent link: https://www.econbiz.de/10003418526
Persistent link: https://www.econbiz.de/10003419036
I analyze two extensions to the standard model of life cycle labor supply that feature operative choices along both the intensive and extensive margin. The first assumes that individuals face different continuous wage-hours schedules. The second assumes that all work must be coordinated across...
Persistent link: https://www.econbiz.de/10012462022
This paper uses a simple model of labor supply extended to allow for home production to understand the extent to which differences in taxes can account for differences in time allocations between the US and Europe. Once home production is included, the elasticity of substitution between...
Persistent link: https://www.econbiz.de/10012464247
This paper argues that it is essential to explicitly consider how the government spends tax revenues when assessing the effects of tax rates on aggregate hours of market work. Different forms of government spending imply different elasticities of hours of work with regard to tax rates. I...
Persistent link: https://www.econbiz.de/10012465766