Labor Supply, Wealth Dynamics and Marriage Decisions

Shintaro Yamaguchi, Claudia Ruiz and Maurizio Mazzocco
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Claudia Ruiz: World Bank

No 210, 2014 Meeting Papers from Society for Economic Dynamics

Abstract: Using the Panel Study of Income Dynamics (PSID), we provide evidence that labor supply, household production, savings, and marital decisions are linked. We then develop and estimatea model that has the ability to generate the patterns observed in the data. Using the estimated model we first show that it is important to consider the link between labor supply, household production, wealth, and marriage choices to understand household behavior and its response to policy changes. We then use the model to evaluate the effect of the Earned Income Tax Credit (EITC) and other subsidy programs on individual decisions and welfare.

Date: 2014
New Economics Papers: this item is included in nep-dge
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