tag:blogger.com,1999:blog-38545607.post4424783624509658300..comments2024-03-09T10:26:48.789+00:00Comments on economics, psychology, policy: Assorted LinksEmma Watsonhttp://www.blogger.com/profile/11466193733741012673noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-38545607.post-31312004965628364672010-04-28T12:26:18.140+00:002010-04-28T12:26:18.140+00:00That's what I had in mind alright: that the Wo...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?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-38545607.post-66988007480856987072010-04-27T20:50:24.828+00:002010-04-27T20:50:24.828+00:00Martin so the idea is that the world cup would red...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.Kevin Dennyhttps://www.blogger.com/profile/17891633553910348880noreply@blogger.comtag:blogger.com,1999:blog-38545607.post-60929449070170842992010-04-27T18:56:26.925+00:002010-04-27T18:56:26.925+00:00On 9, is that such a terrible assumption?
Grante...On 9, is that such a terrible assumption? <br /><br />Granted, it may not hold true fully.<br /><br />But without a major national sporting event to stir us up, we could fall foul of the 'Paradox of Thrift'.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-38545607.post-77368715149758399332010-04-26T17:46:58.414+00:002010-04-26T17:46:58.414+00:00Does 9. not assume, for some reason, that all the ...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?Kevin Dennyhttps://www.blogger.com/profile/17891633553910348880noreply@blogger.comtag:blogger.com,1999:blog-38545607.post-41386568983725281532010-04-26T17:12:09.290+00:002010-04-26T17:12:09.290+00:001: Reminds of this recent IZA paper.
Orley Ashenf...1: Reminds of this recent IZA paper.<br /><br />Orley Ashenfelter, Kirk Doran, Bruce Schaller:<br /><br />A Shred of Credible Evidence on the Long Run Elasticity of Labor Supply<br /><br />Abstract:<br />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. <br /><br /><a href="http://ftp.iza.org/dp4810.pdf" rel="nofollow">IZA DP No. 4810</a>Mark McGovernhttps://www.blogger.com/profile/17133619200829364366noreply@blogger.com