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Measuring Welfare Changes With Nonlinear Budget Constraints in Continuous and Discrete Hours Labour Supply Models

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Author Info
Creedy, J.
Kalb, G.

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Abstract

This paper examines the computation of exact welfare measures in the context of labour supply models. It is suggested that the standard method of computing compensating and equivalent variations does not allow sufficiently for the nonlinearity of the budget constraint. An exact method is suggested. The method is applied to contexts in which individuals are allowed to vary their hours continuously and where only a limited number of discrete hours of work are available. Discrete hours models have in recent years been used in view of the substantial econometric advantages when estimating the parameters of direct utility functions. Note: This paper has now been published in: Creedy, J. and Kalb G. (2005) Measuring Welfare Changes in Labour Supply Models, Manchester School, 73, no.6, pp. 664-685.

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Publisher Info
Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 799.

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Length: 29 pages
Date of creation: 2001
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Handle: RePEc:mlb:wpaper:799

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Related research
Keywords: LABOUR BUDGET UTILITY FUNCTIONS

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Find related papers by JEL classification:
H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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  1. Creedy, John, 2000. "Measuring Welfare Changes and the Excess Burden of Taxation," Bulletin of Economic Research, Blackwell Publishing, vol. 52(1), pages 1-47, January.
  2. Soest, A. van & Das, M., 2000. "Family labor supply and proposed tax reforms in the Netherlands," Discussion Paper 20, Tilburg University, Center for Economic Research. [Downloadable!]
  3. Keane, Michael & Moffitt, Robert, 1998. "A Structural Model of Multiple Welfare Program Participation and Labor Supply," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 553-89, August.
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  4. Creedy, John & Duncan, Alan, 2002. " Behavioural Microsimulation with Labour Supply Responses," Journal of Economic Surveys, Blackwell Publishing, vol. 16(1), pages 1-39, February. [Downloadable!] (restricted)
  5. Richard Blundell & Alan Duncan & Julian McCrae & Costas Meghir, 2000. "The labour market impact of the working families’ tax credit," Fiscal Studies, Institute for Fiscal Studies, vol. 21(1), pages 75-103, March. [Downloadable!]
  6. Blomquist, N. Soren, 1983. "The effect of income taxation on the labor supply of married men in Sweden," Journal of Public Economics, Elsevier, vol. 22(2), pages 169-197, November. [Downloadable!] (restricted)
  7. Vlasblom, Jan Dirk & De Gijsel, Peter & Siegers, Jacques, 2001. "Taxes, Female Labour Supply and Household Income: Differences between the Netherlands and the Federal Republic of Germany," Applied Economics, Taylor and Francis Journals, vol. 33(6), pages 735-44, May. [Downloadable!] (restricted)
  8. Van Soest, A., 1992. "Discrete Choice Models of Family Labour Supply," Papers 9214, Tilburg - Center for Economic Research.
  9. Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-76, September. [Downloadable!] (restricted)
  10. Duncan, Alan & Weeks, Melvyn, 1997. "Behavioural tax microsimulation with finite hours choices," European Economic Review, Elsevier, vol. 41(3-5), pages 619-626, April. [Downloadable!] (restricted)
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