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A Life-Cycle Consistent Empirical Model of Family Labour Supply Using Cross-Section Data

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  • Richard Blundell
  • Ian Walker

Abstract

This paper estimates a utility maximising model of the joint determination of male and female labour supplies using a sample of married couples from the U.K. Family Expenditure Survey. The emphasis is on the estimation of within period preferences that are consistent with intertemporal two-stage budgeting under uncertainty. However, the approach we adopt provides an alternative method of estimating certain aspects of life-cycle behaviour to the fixed effects λ-constant approach of Heckman and MaCurdy (1980), MaCurdy (1981) and Browning, Deaton and Irish (1985). Moreover, it relaxes some of the underlying restrictions that are implicit in these λ-constant models under uncertainty.

Suggested Citation

  • Richard Blundell & Ian Walker, 1986. "A Life-Cycle Consistent Empirical Model of Family Labour Supply Using Cross-Section Data," Review of Economic Studies, Oxford University Press, vol. 53(4), pages 539-558.
  • Handle: RePEc:oup:restud:v:53:y:1986:i:4:p:539-558.
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    File URL: http://hdl.handle.net/10.2307/2297605
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