Intertemporal Substitution in Labour Supply PDF Download
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Author: Tony S. Wirjanto
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Author: Tony S. Wirjanto
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Author: Joseph Altonji
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 96
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Author: Per-Anders Edin
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 32
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Author: George S. Alogoskoufis
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 40
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Author: Joseph G. Altonji
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 62
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Author: George Alogoskoufis
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 34
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Author: Jean Kimmel
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 32
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Author: Joao Ricardo Faria
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real interest rate and real exchange rate from a standard open economy optimizing representative agent model. The paper tests the steady state solution of the model for the US and, in order to avoid the Lucas critique, it tests for the superexogeneity of the interest rate and exchange rate. In accordance with the theory, the empirical evidence is supportive of the intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique.
Author: Phaneuf, Louis
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 26
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Author: Luigi Pistaferri
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 40
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