IMPLICIT CONTRACTS, LIFE CYCLE LABOR SUPPLY, AND INTERTEMPORAL SUBSTITUTION

The implicit contract model is a serious alternative to the spot market interpretation of the labor market. However, its usefulness has been limited because the wage is unobserved, and hence it has not been possible to estimate an intertemporal (Frisch) supply elasticity for the model using microdat...

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Veröffentlicht in:	International economic review (Philadelphia) 2013-11, Vol.54 (4), p.1133-1158
Hauptverfasser:	HAM, JOHN C., REILLY, KEVIN T.
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital-labour substitution Contracts Datasets Economic models Elasticity Elasticity of demand Food consumption Labor contracts Labor supply Labor supply elasticity Labour market Labour supply Life cycles Modeling Price elasticity of supply Standard error Studies Unemployment Unemployment rates
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