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Alternative Approaches to Discrete Working Time Choice in an AGE Framework

Melanie Arntz (), Stefan Boeters () and Nicole Gürtzgen
Authors registered in the RePEc Author Service: Nicole Guertzgen ()

No 05-62, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: We compare two options of integrating discrete working time choice of heterogenous households into a general equilibrium model. The first, known from the literature, produces household heterogeneity through a working time preference parameter. We contrast this with a model that directly incorporates a logit discrete-choice approach into a AGE framework. On the grounds of both calibration consistency and adequate accomodation of within-household interaction, we argue that the logit approach is preferable.

Keywords: applied general equilibrium; discrete working time choice; labour market; wage bargaining; labour market reform; logit model (search for similar items in EconPapers)
JEL-codes: J51 J22 D58 (search for similar items in EconPapers)
Date: 2005
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