Labor Supply and Public Policy - 1st Edition - ISBN: 9780124039209, 9781483269962

Labor Supply and Public Policy

1st Edition

A Critical Review

Authors: Michael C. Keeley
eBook ISBN: 9781483269962
Imprint: Academic Press
Published Date: 1st January 1981
Page Count: 208
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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

Details

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

About the Author

Michael C. Keeley