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首页> 外文期刊>Journal of Economic Literature >Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom
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Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom

机译：微观和宏观劳动力供给弹性：对传统智慧的重新评估

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摘要

The response of aggregate labor supply to various changes in the economic environment is central to many economic issues, especially the optimal design of tax policies. Conventional wisdom based on studies in the 1980s and 1990s has long held that the analysis of micro data leads one to conclude that aggregate labor supply elasticities are quite small. In this paper we argue that this conventional wisdom does not hold up to empirically reasonable and relevant extensions of simple life cycle models that served as the basis for these conclusions. In particular, we show that several pieces of conventional wisdom fail in the presence of human capital accumulation or labor supply decisions that allow for adjustment along both the extensive and intensive margin. We conclude that previous estimates of small labor supply elasticities based on micro data are fully consistent with large aggregate labor supply elasticities.
机译：劳动力总供给对经济环境中各种变化的反应是许多经济问题的核心，尤其是税收政策的优化设计。长期以来，基于1980年代和1990年代的研究的传统观点一直认为，对微观数据的分析可以得出一个结论，即总的劳动力供给弹性很小。在本文中，我们认为，这种传统观点并不符合作为这些结论基础的简单生命周期模型的经验上合理和相关的扩展。尤其是，我们表明，在存在人力资本积累或劳动力供给决策的情况下，有几种传统的看法是失败的，这些决策允许沿着广泛和密集的边际进行调整。我们得出的结论是，先前基于微观数据对小劳动力供给弹性的估计与大的总体劳动力供给弹性完全一致。

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