Does Labor Supply Explain Fluctuations in Average Hours Worked?

52 Pages Posted: 16 Aug 2000 Last revised: 22 Jul 2010

See all articles by Joshua D. Angrist

Joshua D. Angrist

Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER); IZA Institute of Labor Economics

Date Written: March 1990

Abstract

Economists have long debated over what labor supply has to do with fluctuations in hours worked. This paper uses a time series of cross-sections from the 1964-88 Current Population Surveys to study whether microeconomic intertemporal substitution models can explain time series fluctuations in annual averages. Conditional on a parametric trend, labor supply equations fit the 1975-87 data remarkably well. But estimates for 1963-74 are not robust, and estimated labor supply elasticities are much lower in the earlier period.

Suggested Citation

Angrist, Joshua, Does Labor Supply Explain Fluctuations in Average Hours Worked? (March 1990). NBER Working Paper No. w3312. Available at SSRN: https://ssrn.com/abstract=235668

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