Robert E. Moore (Department of Economics and Finance, The J. Whitney Bunting School of Business, Georgia College and State University, Milledgeville, GA 31061-0490, USA, and Department of Economics, School of Policy Studies, Georgia State University, University Plaza, Atlanta, GA 30303, USA (Fax:) Mary Mathewes Kassis (Economic Forecasting Center, Georgia State University, University Plaza, Atlanta, GA 30303, USA (Fax:) Julie L. Hotchkiss (Department of Economics, School of Policy Studies, Georgia State University, University Plaza, Atlanta, GA 30303, USA (Fax:)
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This paper investigates the commonly asserted proposition that long term economic changes have put the family in a financial bind. Structural parameters of a family utility model are obtained by estimating simultaneous labor supply functions for a two-earner household. We find evidence indicating that the average 1990`s two-earner family would prefer to receive the 1980`s real wage package (were it available) instead of the real wage package it actually faces. The degree to which the 1990`s family is worse off (in terms of the changes in the real wage package) is roughly equivalent to an hour of leisure per week.
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Find related papers by JEL classification: D10 - Microeconomics - - Household Behavior - - - General J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
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