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The Heterogeneity and Dynamics of Individual Labor Supply over the Life-Cycle: Facts and Theory

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Author Info

  • Luisa Fuster

    (University of Toronto)

  • Gueorgui Kambourov

    (University of Toronto)

  • Andres Erosa

    (University of Toronto)

Abstract

This paper has three contributions. First, we document various facts about the labor supply decisions of men and women in the US over their life-cycle. For cohorts of male and female individuals in the PSID, we study the life-cycle profile of average hours worked, the variance of log hours, and the fraction of individuals with positive hours worked during the year. In addition, we analyze the persistence in labor force participation and hours worked over the life-cycle. Second, we build a model which is consistent with the facts, and explore the relationship between individual and aggregate labor supply. Third, we use the model to study the impact of various policies, such as a tax reform, on individual and aggregate labor supply.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2008 Meeting Papers with number 529.

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Date of creation: 2008
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Handle: RePEc:red:sed008:529

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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
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Web page: http://www.EconomicDynamics.org/society.htm
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Cited by:
  1. Marco Del Negro & Fabrizio Perri & Fabiano Schivardi, 2010. "Tax buyouts," Staff Report 441, Federal Reserve Bank of Minneapolis.
  2. Johanna Wallenius, 2011. "Human Capital Accumulation and the Intertemporal Elasticity of Substitution of Labor: How Large is the Bias?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 577-591, October.
  3. Ricky Kanabar & Peter Simmons, 2013. "Work and Play Pave the Way: The Importance of Part Time Work in a Lifecycle Model," Discussion Papers 13/01, Department of Economics, University of York.
  4. Magalhães, Manuela & Hellström, Christian, 2013. "Technology diffusion and its effects on social inequalities," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 299-313.

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