Estimates of the Frisch Elasticity of Labor Supply: A Review

Altonji, Joseph G. 1986. Intertemporal Substitution in Labor Supply: Evidence from Micro Data. Journal of Political Economy, 94(3): S176–S215.

Angrist, Joshua D. 1991. Grouped-Data Estimation and Testing in Simple Labor-Supply Models. Journal of Econometrics, 47(2–3): 243–266.

Bianchi, Marco, Bjorn R. Gudmundsson, and Gylfi Zoega. 2001. Iceland’s Natural Experiment in Supply-Side Economics. American Economic Review, 91(5): 1564–1579.

Blundell, Richard, Costas Meghir, and Pedro Neves. 1993. Labour Supply and Intertemporal Substitution. Journal of Econometrics, 59(1–2): 137–160.

Blundell, Richard, Luigi Pistaferri, and Itay Saporta-Eksten. 2012. Consumption Inequality and Family Labor Supply, Working Paper 18445. Cambridge, MA: National Bureau of Economic Research.

Brown, Kristine M. 2010. The link between pensions and retirement behavior: Lessons from California teachers. Paper presented at the 2010 Annual Meeting of the American Economic Association; January 3, Atlanta, USA.

Browning, Martin. 2005. A Working Paper from April 1985: Which Demand Elasticities Do We Know and Which Do We Need to Know for Policy Analysis? Research in Economics, 59(4): 293–320.

Card, David, and Dean R. Hyslop. 2005. Estimating the Effects of a Time-Limited Earnings Subsidy for Welfare-Leavers. Econometrica, 73(6): 1723–1770.

Chetty, Raj. 2012. Bounds on Elasticities with Optimization Frictions: A Synthesis of Micro and Macro Evidence on Labor Supply. Econometrica, 80(3): 969–1018.

Chetty, Raj, Adam Guren, Dayanand S. Manoli, and Andrea Weber. 2011. Does Indivisible Labor Explain the Difference Between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities. Working Paper 16729, Cambridge, MA: National Bureau of Economic Research.

Cho, Jang-Ok, and Thomas F. Cooley. 1994. Employment and Hours over the Business Cycle. Journal of Economic Dynamics and Control, 18(2): 411–432.

Congressional Budget Office. 2012. How the Supply of Labor Responds to Changes in Fiscal Policy. Washington, DC: Congressional Budget Office.

Congressional Budget Office. 2014. How CBO Analyzes the Effects of Changes in Federal Fiscal Policies on the Economy. Washington, DC: Congressional Budget Office.

French, Eric. 2005. The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour. Review of Economic Studies, 72(2): 395–427.

Gruber, Jonathan, and David Wise. 1997. Social Security Programs and Retirement Around the World, Working Paper 6134. Cambridge, MA: National Bureau of Economic Research.

Hall, Robert E. 2009. Reconciling Cyclical Movements in the Marginal Value of Time and the Marginal Product of Labor. Journal of Political Economy, 117(2): 281–323.

Hansen, Lars P., and James J. Heckman. 1996. The Empirical Foundations of Calibration. Journal of Economic Perspectives, 10(1): 87–104.

Heckman, James J., and Thomas E. MaCurdy. 1980. A Life Cycle Model of Female Labour Supply. Review of Economic Studies, 47(1): 47–74.

Heckman, James J., and Thomas E. MaCurdy. 1982. Corrigendum on A Life Cycle Model of Female Labour Supply. Review of Economic Studies, 49(4): 659–660.

Imai, Susumu, and Michael P. Keane. 2004. Intertemporal Labor Supply and Human Capital Accumulation. International Economic Review, 45(2): 601–641.

Keane, Michael P., and Richard Rogerson. 2012. Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom. Journal of Economic Literature, 50(2): 464–476.

Keane, Michael P. 2011. Labor Supply and Taxes: A Survey. Journal of Economic Literature, 49(4): 961–1075.

Kimball, Miles S., and Matthew D. Shapiro. 2008. Labor Supply: Are the Income and Substitution Effects Both Large or Both Small? Working Paper 14208, Cambridge, MA: National Bureau of Economic Research.

King, Robert G., and Sergio T. Rebelo. 1999. Resuscitating Real Business Cycles, in Handbook of Macroeconomics, Vol. 1, edited by John B. Taylor and Michael Woodford Elsevier, Chapter 14, 927–1007.

Laitner, John, and D.a.n. Silverman. 2005. Estimating Life-Cycle Parameters from Consumption Behavior at Retirement. Working Paper 11163, Cambridge, MA: National Bureau of Economic Research.

Lee, Chul-In. 2001. Finite Sample Bias in IV Estimation of Intertemporal Labor Supply Models: Is the Intertemporal Substitution Elasticity Really Small? Review of Economics and Statistics, 83(4): 638–646.

MaCurdy, Thomas E. 1981. An Empirical Model of Labor Supply in a Life-Cycle Setting. Journal of Political Economy, 89(6): 1059–1085.

Manoli, Dayanand, and Andrea Weber. 2010. Intertemporal Substitution in Labor Force Participation: Evidence from Policy Discontinuities. Discussion Paper 5248, Bonn, Germany: Institute for the Study of Labor (IZA).

McClelland, Robert, and Shannon Mok. 2012. A Review of Recent Research on Labor Supply Elasticities. Working Paper 2012-12, Washington, DC: Congressional Budget Office.

Pencavel, John. 1986. Labor Supply of Men: A Survey, in Handbook of Labor Economics, Vol. 1, edited by Orley Ashenfelter and Richard Layard Chapter 1, 3–102 Amsterdam: Elsevier.

Pistaferri, Luigi. 2003. Anticipated and Unanticipated Wage Changes, Wage Risk, and Intertemporal Labor Supply. Journal of Labor Economics, 21(3): 729–728.

Reichling, Felix, and Charles Whalen. 2012. Review of Estimates of the Frisch Elasticity of Labor Supply. Working Paper 2012-13, Washington, DC: Congressional Budget Office.

Rogerson, Richard, and Johanna Wallenius. 2009. Micro and Macro Elasticities in a Life Cycle Model with Taxes. Journal of Economic Theory, 144(6): 2277–2292.

Schorfheide, Frank. 2011. Estimation and Evaluation of DSGE Models: Progress and Challenges. Working Paper 16781, Cambridge, MA: National Bureau of Economic Research.

Smets, Frank, and Rafael Wouters. 2007. Shocks and Frictions in U.S. Business Cycles: A Bayesian DSGE Approach. American Economic Review, 97(3): 586–606.

U.S. Bureau of Labor Statistics. 2015. Employment Situation: Household Survey, Table A-1, accessed via Haver Analytics, March 10.

Ziliak, James P., and Thomas J. Kniesner. 2005. The Effect of Income Taxation on Consumption and Labor Supply. Journal of Labor Economics, 23(4): 769–796.