Add to ORKGThe intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real interest rate and real exchange rate from a standard open economy optimizing representative agent model. The paper tests the steady state solution of the model for the US and, in order to avoid the Lucas critique, it tests for the superexogeneity of the interest rate and exchange rate. In accordance with the theory, the empirical evidence is supportive of the intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique.Intertemporal ...
This paper explains prices, output and employment adjustment Ifl an open economy characterized by a ...
The authors estimate consumption and labor supply models for Canada using U.S. variables as instrume...
In the Lucas-Rapping (1969) model of the labour market, fluctuations in unemployment represent indiv...
The representative agent model of aggregate labor supply, and its cornerstone, the hypothesis of int...
The usual neoclassical model of labor supply and employment determination has been based in closed e...
This study investigates the macroeconometric credibility of the intertemporal substitution hypothesi...
In this paper I present an econometric investigation of the implica-tions of the irlterternporal sub...
It is now more than fifteen years since Lucas and Rapping (LR) first published their influential pap...
We present new tests of three theories of the labor market: intertemporal substitu-tion, hours restr...
We solve and estimate a dynamic model that allows agents to optimally choose their labor hours and c...
The aim of his paper is to discuss the roles of the elasticity of intertemporal substitution in cons...
International audienceThe aim of this paper is to discuss the roles of the elasticity of intertempor...
According to the intertemporal-substitution hypothesis, which underlies the typical empirical real b...
We develop a model of a small open economy with optimizing, infinitely lived agents. They have monop...
This paper deals with the long run consequences of productivity and rate of time preferences changes...
This paper explains prices, output and employment adjustment Ifl an open economy characterized by a ...
The authors estimate consumption and labor supply models for Canada using U.S. variables as instrume...
In the Lucas-Rapping (1969) model of the labour market, fluctuations in unemployment represent indiv...
The representative agent model of aggregate labor supply, and its cornerstone, the hypothesis of int...
The usual neoclassical model of labor supply and employment determination has been based in closed e...
This study investigates the macroeconometric credibility of the intertemporal substitution hypothesi...
In this paper I present an econometric investigation of the implica-tions of the irlterternporal sub...
It is now more than fifteen years since Lucas and Rapping (LR) first published their influential pap...
We present new tests of three theories of the labor market: intertemporal substitu-tion, hours restr...
We solve and estimate a dynamic model that allows agents to optimally choose their labor hours and c...
The aim of his paper is to discuss the roles of the elasticity of intertemporal substitution in cons...
International audienceThe aim of this paper is to discuss the roles of the elasticity of intertempor...
According to the intertemporal-substitution hypothesis, which underlies the typical empirical real b...
We develop a model of a small open economy with optimizing, infinitely lived agents. They have monop...
This paper deals with the long run consequences of productivity and rate of time preferences changes...
This paper explains prices, output and employment adjustment Ifl an open economy characterized by a ...
The authors estimate consumption and labor supply models for Canada using U.S. variables as instrume...
In the Lucas-Rapping (1969) model of the labour market, fluctuations in unemployment represent indiv...