Monday, April 26, 2010

Assorted Links

1. Labor Supply of New York City Cabdrivers: One Day At A Time

2. Do Doctoral Students' Financial Support Patterns Affect Their Times-To-Degree and Completion Probabilities?

3. Why labour market experiments?

4. Searching for the Opportunity Cost of an Individual's Time

5. Student achievement and birthday effects

6. MumPanel opens for business

7. Behavioural Economics and Tort Law

8. Are students illegally boosting their brainpower by using "smart drugs" like Ritalin and Aderall?

9. Did Thierry Henry's handball cost the Irish economy $150 million?


Mark McG said...

1: Reminds of this recent IZA paper.

Orley Ashenfelter, Kirk Doran, Bruce Schaller:

A Shred of Credible Evidence on the Long Run Elasticity of Labor Supply

Virtually all public policies regarding taxation and the redistribution of income rely on explicit or implicit assumptions about the long run effect of wage rates on labor supply. The available estimates of the wage elasticity of male labor supply in the literature have varied between -0.2 and 0.2, implying that permanent wage increases have relatively small, poorly determined effects on labor supplied. The variation in existing estimates calls for a simple, natural experiment in which men can change their hours of work, and in which wages have been exogenously and permanently changed. We introduce a panel data set of taxi drivers who choose their own hours, and who experienced two exogenous permanent fare increases instituted by the New York City Taxi and Limousine Commission, and we use these data to fit a simple structural labor supply function. Our estimates suggest that the elasticity of labor supply is about -0.2, implying that income effects dominate substitution effe! cts in the long run labor supply of males.

IZA DP No. 4810

Kevin Denny said...

Does 9. not assume, for some reason, that all the money spent down the pub watching the match etc would not have been spent otherwise?

Martin Ryan said...

On 9, is that such a terrible assumption?

Granted, it may not hold true fully.

But without a major national sporting event to stir us up, we could fall foul of the 'Paradox of Thrift'.

Kevin Denny said...

Martin so the idea is that the world cup would reduce some of the excess precautionary saving? I can buy that, but the extra spend would be a lot less than the total, I would have thought. In other words people would cut back on other stuff.

Martin Ryan said...

That's what I had in mind alright: that the World Cup would reduce some of the excess precautionary saving. That may have just sat in deposit accounts otherwise?