Chapter 1. Labor Supply
- Joyce P. Jacobsen,
- Gilbert L. Skillman
Published Online: 14 JAN 2008
DOI: 10.1002/9780470755587.ch2
Copyright © 2004 by Joyce P. Jacobsen and Gilbert L. Skillman
Book Title
Labor Markets and Employment Relationships: A Comprehensive Approach
Additional Information
How to Cite
Jacobsen, J. P. and Skillman, G. L. (eds) (2008) Labor Supply, in Labor Markets and Employment Relationships: A Comprehensive Approach, Blackwell Publishing Ltd, Malden, MA, USA. doi: 10.1002/9780470755587.ch2
Publication History
- Published Online: 14 JAN 2008
- Published Print: 1 JAN 2004
ISBN Information
Print ISBN: 9780631208365
Online ISBN: 9780470755587
- Summary
- Chapter
- References
Keywords:
- non-labor income;
- labor choice;
- labor force participation;
- household labor supply;
- wage change
Summary
This chapter contains section titled:
A BASIC MODEL OF HOUSEHOLD LABOR SUPPLY
Elements of the basic model
The household's budget frontier
Household preferences: the utility function and the indifference map
The household's optimal labor choice
IMPLICATIONS OF THE BASIC MODEL Labor force participation
Household labor supply
The effect of non-labor income on labor supply
Derivation of the household's labor supply curve
Income and substitution effects of a wage change
Aggregating household supply curves
EXTENSIONS OF THE BASIC MODEL OF HOUSEHOLD LABOR SUPPLY
Household production
Skill acquisition and labor expenditure
CONCLUSION