Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/200289
Authors: 
Bottazzi, Renata
Trucchi, Serena
Wakefield, Matthew
Year of Publication: 
2017
Series/Report no.: 
IFS Working Papers No. W17/29
Abstract: 
We look at how strongly shocks to asset values affect labour supply, using Italian data. We use asset price shocks to provide a measure of wealth changes that is exogenous to households' saving and labour supply. Our results point to significant effects of wealth on hours of work and on whether or not agents leave their jobs. The magnitude of these effects can be substantial, for example for those individuals who suffered larger wealth losses during the financial crisis. Family effects reflect similar responses from men and women on average. Older working-age individuals drive the population results.
Subjects: 
Labour Supply
Financial wealth shocks
Wealth effects
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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