Individual Labour Supply Decisions with Respect To Household Production and Over the Life Cycle
The article presents two other applications of the standard neoclassical model of consumption-leisure choice, which forms the individual labour supply. The first one is decision making concerning time allocation with regard to household production; the second one is focused on labour supply over the life cycle. The final part supports the theoretical conclusions of models with selected recent statistical data from the Czech background.
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Volume (Year): 2010 (2010)
Issue (Month): 1 ()
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- Heckman, James J, 1974. "Life Cycle Consumption and Labor Supply: An Explanation of the Relationship Between Income and Consumption Over the Life Cycle," American Economic Review, American Economic Association, vol. 64(1), pages 188-94, March.
- Gilbert Ghez & Gary S. Becker, 1975. "The Allocation of Time and Goods over the Life Cycle," NBER Books, National Bureau of Economic Research, Inc, number ghez75-1, September.
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