A life cycle model is derived to explain the allocation of time of family members over the life cycle. The timing of market participation is shown to depend upon the life cycle wage pattern of men and women, the rate of interest, the rate of time preference, and age-related changes in the productivity of nonmarket uses of time.
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Paper provided by EconWPA in its series Labor and Demography with number
0403035.
James P. Smith, 1977.
"Family Labor Supply over the Life Cycle,"
NBER Chapters,
in: Explorations in Economic Research, Volume 4, number 2, pages 1-72
National Bureau of Economic Research, Inc.
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