An empirical life cycle model of savings, labour supply and consumption without intertemporal separability
Working paper
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https://hdl.handle.net/11250/2673545Utgivelsesdato
1993-07Metadata
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- Discussion Papers [1004]
Sammendrag
This paper formulates and estimates a structural life cycle model of married couples' labour supply and consumption of durables and non-durables. The purpose of this work has been to find a specification of this class of life cycle models that can be estimated in the absence of observations of consumption of non-durables, and the price and the physical stock of durables. We allow for a particular kind of non-separability in the demand for durables, and treat durables and non-durables as a (single) Hicks composite good.