Labor Supply and Public Policy

Labor Supply and Public Policy

A Critical Review

1st Edition - January 1, 1981

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  • Author: Michael C. Keeley
  • eBook ISBN: 9781483269962

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Description

Labor Supply and Public Policy: A Critical Review deals with the theoretical and empirical econometric research done on the determinants of labor supply and with the effects of public policies on labor supply. This book reviews the various estimates made from studies concerning the economics of labor supply and evaluates the econometric methods that these studies have used. This text also analyzes the labor-supply phenomena, the costs of the different public programs, as well as, the implications of the empirical findings of these studies. The emphasis is on empirical research: many policies that are made depend on the scale of changes in the wage rates and non-market (household) income on hours of work. This book also focuses more on the determinants of the allocation of time between the market and household sectors. The text notes that by using the means of the estimates in the different studies under review, the labor-supply response to public policies involving net wages or income, shows a substantial (but not overwhelming) reaction. This book then correlates this finding with the tax and transfer programs, such as food stamps, unemployment insurance, AFDC (aid to families with dependent children), and NIT (negative income tax). This book is suitable for economists, social workers, and policy makers who are involved in social services, community development, welfare, taxation, labor, and employment.

Table of Contents


  • Preface

    Acknowledgments

    1 Introduction

    2 Review of the Economic Theory of Labor Supply and Empirical Representations of Labor-Supply Functions

    Introduction

    A One-Period Family Model of the Demand for Leisure

    Empirical Representations of the Labor-Supply Function

    Conditional Labor Supply and Labor-Force Participation

    New Developments in the Theory of Labor-Supply

    Conclusions

    3 The Effects of Public Policies on Labor Supply

    Introduction

    Income Maintenance

    Wage Subsidies

    Income Tax

    The Effects of Other Public Policies on Labor Supply

    The Welfare Cost of a Tax or Subsidy

    The Value of Leisure and Measuring the Effects of Public Policy on the Distribution of Income

    Transfer Programs and the Distribution of Income

    The Determinants of Participation in Tax and Transfer Programs

    4 Review of the Nonexperimental Research on Labor Supply

    Introduction

    Econometric Issues

    A Review of Empirical Findings

    Summary and Policy Implications

    5 Review of the Experimental Labor-Supply Research

    Introduction

    Design of the Experiments

    Problems with the Design Model

    Statistical Models Used to Estimate Response

    Estimates of Labor-Supply Response

    What Has Been Learned from the Experiments

    References

    Subject Index

Product details

  • No. of pages: 208
  • Language: English
  • Copyright: © Academic Press 1981
  • Published: January 1, 1981
  • Imprint: Academic Press
  • eBook ISBN: 9781483269962

About the Author

Michael C. Keeley

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