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dc.contributor.authorDomeij, Daviden
dc.contributor.authorFlodén, Martinen
dc.date.accessioned2012-03-28T13:05:01Z-
dc.date.available2012-03-28T13:05:01Z-
dc.date.issued2001-
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
dc.language.isoengen
dc.publisher|aStockholm School of Economics, The Economic Research Institute (EFI) |cStockholmen
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x480en
dc.subject.jelC20en
dc.subject.jelC50en
dc.subject.jelE20en
dc.subject.jelJ22en
dc.subject.ddc330en
dc.subject.keywordlabor supply elasticityen
dc.subject.keywordintertemporal substitutionen
dc.subject.keywordliquidity constraintsen
dc.subject.stwArbeitsangeboten
dc.subject.stwSubstitutionselastizitäten
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwBiasen
dc.subject.stwTheorieen
dc.titleThe labor-supply elasticity and borrowing constraints: Why estimates are biased-
dc.typeWorking Paperen
dc.identifier.ppn337916292en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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