Wage Uncertainty And The Labour Supply Of Self-Employed Workers
AbstractWe analyse the effects of wage uncertainty on the labour supply of self-employed workers, using PSID data on self-employed American males. The standard deviation of past wages, as a measure of wage uncertainty, is the key determinant of male self-employed labour supply, with a significant positive effect. In contrast there is no effect from the (instrumented) wage or other explanatory variables. Our findings are consistent with the self-employed 'self-insuring' in response to greater uncertainty by working longer hours, and they can also help explain why self-employed Americans work longer average hours for lower average wages than their employee counterparts. Copyright 2005 Royal Economic Society.
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Bibliographic InfoPaper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2004 with number 67.
Date of creation: 17 Sep 2004
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- Simon C. Parker & Yacine Belghitar & Tim Barmby, 2005. "Wage Uncertainty and the Labour Supply of Self-Employed Workers," Economic Journal, Royal Economic Society, vol. 115(502), pages C190-C207, 03.
- NEP-ALL-2004-09-30 (All new papers)
- NEP-BEC-2004-09-30 (Business Economics)
- NEP-ENT-2004-09-30 (Entrepreneurship)
- NEP-LAB-2004-09-30 (Labour Economics)
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