全球智库信息集成服务系统(G2TT): Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w21315
来源ID	Working Paper 21315
	Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply
	Orazio Attanasio; Peter Levell; Hamish Low; Virginia Sánchez-Marcos
发表日期	2015-07-06
出版年	2015
语种	英语
摘要	We estimate labour supply elasticities at the micro level and show what we can learn from possibly very heterogeneous elasticities for aggregate behaviour. We consider both intertemporal and intratemporal choices, and identify intensive and extensive responses in a consistent life-cycle framework, using US CEX data. There is substantial heterogeneity in how individuals respond to wage changes at all margins, both due to observables, such as age, wealth, hours worked and the wage level as well as to unobservable tastes for leisure. We estimate the distribution of Marshallian elasticities for hours worked to have a median value of 0.18, and corresponding Hicksian elasticities of 0.54 and Frisch elasticities of 0.87. At the 90th percentile, these values are 0.79, 1.16, and 1.92. Responses at the extensive margin are important, explaining about 54% of the total labour supply response for women under 30, although this importance declines with age. We show that aggregate elasticities are cyclical, being larger in recessions and particularly so in long recessions. This heterogeneity at the micro level means that the aggregate labour supply elasticity is not a structural parameter: any aggregate elasticity will depend on the demographic structure of the economy as well as the distribution of wealth and the particular point in the business cycle.
主题	Microeconomics ; Households and Firms ; Labor Economics ; Labor Supply and Demand
URL	https://www.nber.org/papers/w21315
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/578990
推荐引用方式 GB/T 7714	Orazio Attanasio,Peter Levell,Hamish Low,et al. Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply. 2015.