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| Author: | Vendrik, M. C. M. |
| Title: | Unstable bandwagon and habit effects on labor supply |
| Journal: | Journal of Economic Behavior and Organization
1998 : AUG, VOL. 36:2, p. 235-255 |
| Index terms: | LABOUR SUPPLY EQUILIBRIUM ANALYSIS MODELS OECD |
| Language: | eng |
| Abstract: | In the paper, a dynamic labor supply model is developed based on unstable bandwagon and habit effects. It possesses multiple long-run equilibria and exhibits hysteresis and transitions between home and market time dependent on the wage rate. These properties are robust. The model provides an explanation of the long-run increase in labor supply by married women in the Netherlands, the USA and other OECD countries. |
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