Individual and Aggregate Labor Supply With Coordinated Working Times

Richard Rogerson

No 16636, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: I analyze two extensions to the standard model of life cycle labor supply that feature operative choices along both the intensive and extensive margin. The first assumes that individuals face different continuous wage-hours schedules. The second assumes that all work must be coordinated across individuals. These models look similar qualitatively but have very different implications for how aggregate labor supply responds to changes in taxes. In the first model, curvature in the utility from leisure function plays relatively little role in determining the overall change in hours worked, whereas in the second model it is of first order importance. The second model has important implications for what data is best able to provide evidence on the extent of curvature in the utility from leisure function.

JEL-codes: E24 J22 (search for similar items in EconPapers)
Date: 2010-12
Note: EFG
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Published as Richard Rogerson, 2011. "Individual and Aggregate Labor Supply with Coordinated Working Times," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 7-37, 08.

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Journal Article: Individual and Aggregate Labor Supply with Coordinated Working Times (2011)
Journal Article: Individual and Aggregate Labor Supply with Coordinated Working Times (2011)
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