Incorporating Labor-Leisure Choice into a Static General Equilibrium Model

Alan K. Fox

No 331069, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: This paper illustrates how a simple labor-leisure choice is incorporated into the U.S. International Trade Commission’s CGE model of the U.S. economy. Following the work of Ballard (1999), special attention is paid to the parameterization of the labor-leisure choice so that the relative responsiveness of the model is consistent with econometrically observed behavior. The model is extended using a simple top CES nest between leisure and the consumption good composite.

Keywords: Labor and Human Capital; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 8
Date: 2002
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:331069

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