The Economics of Dual Job Holding: A Job Portfolio Model of Labor Supply

Francesco Renna () and Ronald Oaxaca
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Francesco Renna: University of Akron

No 1915, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: In this paper we develop a job portfolio model of dual job holding based on a Stone-Geary utility function. We derive the associated Slutsky equation components. Because the job portfolio model applies only to unconstrained dual jobholders, we separate individuals who moonlight because of an hours constraint from dual jobholders who work on two job for reasons different from an hours constraint. Income and wage elasticities are estimated for workers without hours constraints using data from the May 1991 supplement to the Current Population Survey. Our study finds that the income and compensated wage elasticities are much larger for labor supply to job 2 compared with job 1.

Keywords: dual job; labor supply; Stone-Geary (search for similar items in EconPapers)
JEL-codes: J22 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2006-01
New Economics Papers: this item is included in nep-lam
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Citations: View citations in EconPapers (31)

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