haku: @author Ham, J. C. / yhteensä: 3
viite: 1 / 3
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| Tekijä: | Ham, J. C. Reilly, K. T. |
| Otsikko: | Testing Intertemporal Substitution, Implicit Contracts, and Hours Restriction Models of the Labor Market Using Micro Data |
| Lehti: | American Economic Review
2002 : SEP, VOL. 92:4, p. 905-927 |
| Asiasana: | LABOUR MARKETS CONTRACTS MODELS THEORIES |
| Kieli: | eng |
| Tiivistelmä: | The authors present new tests of three theories of the labor market: intertemporal substitution, hours restrictions, and implicit contracts. The intertemporal substitution test the authors implement is an exclusion test robust to many specification errors and the authors consistently reject this model. The authors model hours restrictions as part of an endogenous switching model. The authors compare the implicit probit equation to an unrestricted probit equation for unemployment and reject the hours restriction model. For the implicit contracts model, the authors estimate nonseparable within-period labor-supply and consumption equations. The authors test a cross-equation restriction of the model and cannot reject the implicit contracts model. |
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