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Dynamic life cycle models of labor supply, consumption/saving, annuities, and job search behavior with empirical applications.

机译:劳动力供应,消耗/储蓄,年金和求职行为的动态生命周期模型以及经验应用。

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摘要

This dissertation presents various stochastic dynamic programming models that endogenize the consumption/saving, labor/leisure, annuity and search decisions of individuals. Using numerical methods I am able to solve and simulate paths for the relevant variables to analyze behavior and perform policy experiments. First, using the Health and Retirement Survey I investigate the determinants of labor force status among older Americans, with an special emphasis on the study on those returning to work. I also investigate transitions in and out of employment and self-employment, and for subsamples of males, females, and married respondents. Second, I introduce a dynamic model of labor/leisure, consumption/saving and annuity decisions over the life cycle with capital uncertainty, and in the presence of bequest motives and Social Security. This provides new insights into the "annuity puzzle" and the effects of Social Security on labor supply and welfare. Finally, I extend the previous model to account for job search behavior over the Life Cycle. Individuals now also make job search decisions under capital, lifetime and wage uncertainty. Searching is costly in terms of leisure and in terms of monetary resources, but it is also productive having a positive effect on the wage individuals expect to face in the subsequent periods. I show that some features of the dynamic model can be reconciled with empirical data from the Health and Retirement Survey on search behavior among older workers. The empirical analysis of search behavior at the end of the life cycle represents one of the first efforts to characterize job search as an important issue to consider for older individuals.
机译:本文提出了各种随机动态规划模型,它们内生于个人的消费/储蓄,劳动/休闲,年金和搜索决策。使用数值方法,我能够求解和模拟相关变量的路径,以分析行为并执行策略实验。首先,我使用“健康和退休调查”调查了老年人中劳动力状况的决定因素,特别着重研究了重返工作岗位的人。我还调查了就业和自营职业的进出过渡情况,以及男性,女性和已婚受访者的子样本。其次,我介绍了在生命周期内具有资本不确定性,存在遗赠动机和社会保障的情况下的劳动/休闲,消费/储蓄和年金决策的动态模型。这为“年金难题”以及社会保障对劳动力供应和福利的影响提供了新的见解。最后,我扩展了先前的模型,以说明生命周期内的求职行为。现在,个人还可以根据资金,寿命和工资的不确定性来做出求职决定。就休闲和金钱资源而言,搜寻的成本很高,但它也具有生产性,对个人期望在随后的时期内面临的工资产生积极影响。我表明,动态模型的某些功能可以与健康和退休调查中有关老年工人搜索行为的经验数据相吻合。对生命周期结束时的搜索行为进行的经验分析是将求职描述为老年人要考虑的重要问题的第一项努力之一。

著录项

  • 作者

    Benitez Silva, Hugo A.;

  • 作者单位

    Yale University.;

  • 授予单位 Yale University.;
  • 学科 Economics Labor.;Economics Theory.
  • 学位 Ph.D.
  • 年度 2000
  • 页码 152 p.
  • 总页数 152
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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