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Relaxing Intertemporal Separability: A Rational Habits Model of Labor Supply Estimated from Panel Data

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  • Bover, Olympia

Abstract

This article relaxes the assumption of separability of preferences over time that, although implausible, is usually maintained in life-cycle labor-supply models. An empirically tractable rational habits model is specified and estimated on the basis of a ten-year sample of men from the Michigan Panel of Income Dynamics. The effect of past hours of work in determining current hours decisions is found to be very important and well determined, having allowed for permanent individual differences and for time effects. Copyright 1991 by University of Chicago Press.

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Bibliographic Info

Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 9 (1991)
Issue (Month): 1 (January)
Pages: 85-100

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Handle: RePEc:ucp:jlabec:v:9:y:1991:i:1:p:85-100

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Cited by:
  1. Victoria Prowse, 2007. "Modeling Employment Dynamics with State Dependence and Unobserved Heterogeneity," Economics Series Working Papers 337, University of Oxford, Department of Economics.
  2. Dupaigne, Martial & Fève, Patrick & Matheron, Julien, 2005. "Technology Shocks and Employment: Do We Really Need DSGE Models with a Fall in Hours?," IDEI Working Papers 349, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Takashi Kano & Hafedh Bouakez, 2005. "Learning-by-doing or Habit Formation?," Computing in Economics and Finance 2005 126, Society for Computational Economics.
  4. Sarafidis, Vasilis & Yamagata, Takashi, 2010. "Instrumental Variable Estimation of Dynamic Linear Panel Data Models with Defactored Regressors under Cross-sectional Dependence," MPRA Paper 25182, University Library of Munich, Germany.
  5. Lefebvre, Pierre & Merrigan, Philip & Verstraete, Matthieu, 2009. "Dynamic labour supply effects of childcare subsidies: Evidence from a Canadian natural experiment on low-fee universal child care," Labour Economics, Elsevier, vol. 16(5), pages 490-502, October.
  6. Martial Dupaigne & Patrick Feve & Julien Matheron, 2007. "Technology Shocks, Non-stationary Hours and DSVAR," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 238-255, April.
  7. Prowse, Victoria L., 2006. "Part-time Work and Occupational Attainment Amongst a Cohort of British Women," IZA Discussion Papers 2342, Institute for the Study of Labor (IZA).
  8. Fève, P. & Matheron, J., 2005. "Can the Kydland--Prescott Model Pass the Cogley--Nason Test?," Working papers 125, Banque de France.
  9. Charles Brown & Greg J. Duncan & Frank P. Stafford, 1996. "Data Watch: The Panel Study of Income Dynamics," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 155-168, Spring.
  10. Gary Wong, 2001. "Towards A More General Approach To Testing The Time Additivity Hypothesis," School of Economics and Finance Discussion Papers and Working Papers Series 098, School of Economics and Finance, Queensland University of Technology.
  11. Rebecca M. Blank, 1994. "The Dynamics of Part-Time Work," NBER Working Papers 4911, National Bureau of Economic Research, Inc.

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