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Macroeconomic Effects of Sectoral Shocks in Germany, the U.K. and, the U.S

Erik Hernaes (), Zhiyang Jia () and Steinar Strøm

CHILD Working Papers from CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY

Abstract: Models for non-cooperative as well as cooperative behavior of families are estimated on data from Norway from 1994 to 1998. The models aim at explaining labor supply behavior of married couples the first five months after the husband becomes eligible for early retirement, while the wife is not eligible. Estimates and predictions derived from the different models are compared. Econometric tests find that the Stackelberg model with the male as the leader is the best. Simulations with the estimated models show that taxing pension income the same way as labor income would reduce the propensity to retire early considerably.

Keywords: family labor supply; retirement; econometric models; policy simulations (search for similar items in EconPapers)
JEL-codes: D10 H55 J26 (search for similar items in EconPapers)
Date: 2003-08
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