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Testing Intertemporal Substitution,Implicit Contracts,and Hours Restriction Models of the Labor Market Using Micro Data
Testing Intertemporal Substitution Implicit Contracts Hours Restriction Models Labor Market Micro Data
2015/9/18
We present new tests of three theories of the labor market: intertemporal substitution, hours restrictions, and implicit contracts. The intertemporal substitution test we implement is an exclusion tes...
Implicit Contracts,Life Cycle Labor Supply and Intertemporal Substitution
Intertemporal Substitution Implicit Contracts Micro Data Symmetry Restriction Utility Theory
2015/9/18
The implicit contract model has been suggested as a serious alternative to the spot marketinterpretation of the labor market. However, its usefulness has been limited because the wage is unobserved in...
Opt Out or Top Up? Voluntary Healthcare Insurance and the Public vs. Private Substitution
public provision of private goods health insurance bivariate count data model endogenous multinomial treatment simultaneous equation modeling
2012/10/24
We investigate whether people enrolled into voluntary health insurance (VHI) substitute public consumption with private (opt out) or just enlarge their private consumption, without reducing reliance u...
Factor Shares, the Price Markup, and the Elasticity of Substitution between Capital and Labor
elasticity of substitution price markup factor shares capital deepening
2012/10/23
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in re...
Substitution Between Individual and Cultural Capital: Pre-Migration Labor Supply, Culture and US Labor Market Outcomes Among Immigrant Woman
gender immigration labor supply human capital
2012/10/25
In this paper we use New Immigrant Survey data to investigate the impact of immigrant women's own labor supply prior to migrating and female labor supply in their source country to provide evidence on...
Recent analysis of the substitution effects in CPI-like Laspeyres measures of price change indicate small differences across index number formulas. This article examines trends in the commodity substi...