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http://hdl.handle.net/10419/56163
  

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dc.contributor.authorDomeij, Daviden_US
dc.contributor.authorFlodén, Martinen_US
dc.date.accessioned2012-03-28T13:05:01Z-
dc.date.available2012-03-28T13:05:01Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/56163-
dc.description.abstractThe labor-supply elasticity is a central element in many macroeconomic models. We argue that assumptions underlying previous econometric estimates of the intertemporal labor supply elasticity are inconsistent with incomplete markets economies. In particular, if the econometrician ignores borrowing constraints, the elasticity will be biased downwards. Within our model, the bias may be up to 50 percent. We find a similar bias in PSID data.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 480en_US
dc.subject.jelC20en_US
dc.subject.jelC50en_US
dc.subject.jelE20en_US
dc.subject.jelJ22en_US
dc.subject.ddc330en_US
dc.subject.keywordlabor supply elasticityen_US
dc.subject.keywordintertemporal substitutionen_US
dc.subject.keywordliquidity constraintsen_US
dc.subject.stwArbeitsangeboten_US
dc.subject.stwSubstitutionselastizitäten_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwBiasen_US
dc.subject.stwTheorieen_US
dc.titleThe labor-supply elasticity and borrowing constraints: Why estimates are biaseden_US
dc.typeWorking Paperen_US
dc.identifier.ppn337916292en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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