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An Empirical Model of Labor Supply in a Life-Cycle Setting

Thomas MaCurdy^1,2

¹ National Bureau of Economic Research · ² Stanford University

This paper formulates and estimates a structural intertemporal model of labor supply. Using theoretical characterizations derived from an economic model of lifetime behavior, a two-step empirical analysis yields estimates of intertemporal and uncompensated substitution effects which provide the information needed to predict the response of hours of work to life-cycle wage growth and shifts in the lifetime wage path.

DOI

10.1086/261023

Volume

89 (6)

Pages

1059-1085

Language

en

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BibTeX

Sources

crossref openalex