The Life Cycle, the Family and Labour Supply

Soon Beng Chew

Chapter 3 in Labour Economics and Public Policy:Managing the Labour Markets for Competitiveness, 2017, pp 33-46 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In Chapter 2, we use the Y‒L model to determine number of hours of work per day. We show that a change in wage rate will produce substitution effect and income effect. In conducting the analysis, we assume that workers have a choice to work more hours or fewer hours. There seems to be no restrictions on working hours. And the workers do not seem to worry about lifetime expenses. Does the worker’s decision to work depend on his household’s condition? At the same time, how do we take into account self-employment? In this chapter, we will consider all these situations.

Keywords: Labour Market Competitiveness; Labour Unions; Macro-Focused Union; Union Social Responsibility; Union as a Public Good (search for similar items in EconPapers)
JEL-codes: J08 (search for similar items in EconPapers)
Date: 2017
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