Chapter 1. Labor Supply

  1. Joyce P. Jacobsen and
  2. Gilbert L. Skillman

Published Online: 14 JAN 2008

DOI: 10.1002/9780470755587.ch2

Labor Markets and Employment Relationships: A Comprehensive Approach

Labor Markets and Employment Relationships: A Comprehensive Approach

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

  1. Published Online: 14 JAN 2008
  2. Published Print: 1 JAN 2004

ISBN Information

Print ISBN: 9780631208365

Online ISBN: 9780470755587

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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