Econometrica Vol. 47 No. 3 1979
The Joint Allocation of Leisure and Goods Expenditure
Abstract
[Conventionally labor supply modeling has been dichotomized from consumption expenditure allocation. We estimate a model unifying both aspects of the consumer's decision problem, and we test for the two-stage decision implied by the conventional dichotomy. We investigate the gains from joint modeling. We use a version of the Rotterdam model recently shown by Barnett [6] to be derivable at the aggregate level under weaker assumptions than those needed to acquire empirically usable theoretical results at the aggregate level with other models; our results are not subject to the restrictiveness imputed to earlier uses of versions of the Rotterdam model.]
- DOI
- 10.2307/1910405
- Volume
- 47
- Issue
- 3
- Pages
- 539
- Sources
- bibtex:phds-export.bib openalex crossref