Artikel
Aggregation with a non-convex labor supply decision and habits in consumption
The purpose of this paper is to explore the problem of non-convex labor supply decision in an economy where households feature consumption habits. We show how lotteries as in Rogerson (1988) can again be used to convexify consumption sets, and aggregate over individual preferences. The presence of habits in consumption does not affect the results. As in Hansen (1985) and Rogerson (1988) and no consumption habits, with a discrete labor supply decision at individual level, the elasticity of hours worked at the aggregate level increases from unity to infinity.
- Language
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Englisch
- Bibliographic citation
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Journal: Theoretical and Practical Research in Economic Fields ; ISSN: 2068-7710 ; Year: 2020 ; Issue: forthcoming ; Pages: 1-6 ; Craiova: ASERS Publishing
- Classification
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Wirtschaft
Time Allocation and Labor Supply
Informal Labor Markets
- Subject
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Aggregation
Indivisible Labor
Consumption Habits
Non-convexities
- Event
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Geistige Schöpfung
- (who)
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Vasilev, Aleksandar
- Event
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Veröffentlichung
- (who)
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ASERS Publishing
ZBW – Leibniz Information Centre for Economics
- (where)
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Craiova
- (when)
-
2020
- Handle
- Last update
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20.09.2024, 8:23 AM CEST
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Vasilev, Aleksandar
- ASERS Publishing
- ZBW – Leibniz Information Centre for Economics
Time of origin
- 2020
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