An Empirical Model of Labor Supply in a Life Cycle Setting

Thomas E. MaCurdy

No 421, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper formulates and estimates a structural life cycle model of labor supply. Using theoretical characterizations derived from an economic model of life cycle behavior, a two-stage empirical analysis yields estimates of intertemporal and uncompensated substitution effects which provides the information needed to predict the response of hours of work to life cycle wage growth and shifts in the lifetime wage path. The empirical model developed here provides a natural framework for interpreting estimates found in other work on this topic. It also indicates how cross section specifications of hours of work can be modified to estimate parameters relevant for describing labor supply behavior in a lifetime setting.

Date: 1980-01
Note: LS
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Published as Thomas E. MaCurdy, 1981. "An Empirical Model of Labor Supply in a Life-Cycle Setting," Journal of Political Economy, vol 89(6), pages 1059-1085.

Downloads: (external link)
http://www.nber.org/papers/w0421.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:0421

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w0421

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().