Labour supply and saving under uncertainty

被引:31
作者
Floden, Martin [1 ]
机构
[1] Stockholm Sch Econ, S-11383 Stockholm, Sweden
关键词
D O I
10.1111/j.1468-0297.2006.01108.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
This article examines how variations in labour supply can be used to self-insure against wage uncertainty and the impact of such self-insurance on precautionary saving. The analytical framework is a two-period model with saving and labour-supply decisions, where preferences are consistent with balanced growth. The main findings are that (i) labour-supply flexibility raises precautionary saving when future wages are uncertain, and (ii) uncertainty about future wages raises current labour supply and reduces future labour supply.
引用
收藏
页码:721 / 737
页数:17
相关论文
共 21 条
[1]   UNINSURED IDIOSYNCRATIC RISK AND AGGREGATE SAVING [J].
AIYAGARI, SR .
QUARTERLY JOURNAL OF ECONOMICS, 1994, 109 (03) :659-684
[2]   LABOR SUPPLY FLEXIBILITY AND PORTFOLIO CHOICE IN A LIFE-CYCLE MODEL [J].
BODIE, Z ;
MERTON, RC ;
SAMUELSON, WF .
JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 1992, 16 (3-4) :427-449
[3]   CONSUMPTION DECISIONS UNDER UNCERTAINTY [J].
DREZE, JH ;
MODIGLIA.F .
JOURNAL OF ECONOMIC THEORY, 1972, 5 (03) :308-335
[4]   LABOR SUPPLY, UNCERTAINTY, AND EFFICIENT TAXATION [J].
EATON, J ;
ROSEN, HS .
JOURNAL OF PUBLIC ECONOMICS, 1980, 14 (03) :365-374
[5]  
FLODEN M, 2005, SSE EFI WORKING PAPE, V591
[6]  
FRENCH E, 2003, IN PRESS REV EC STUD
[7]   Labor supply under wage uncertainty [J].
Hartwick, JM .
ECONOMICS LETTERS, 2000, 68 (03) :319-325
[8]   Aggregate precautionary savings: when is the third derivative irrelevant? [J].
Huggett, M ;
Ospina, S .
JOURNAL OF MONETARY ECONOMICS, 2001, 48 (02) :373-396
[9]  
KIMBALL MP, 2003, 4005 CEPR
[10]   PRECAUTIONARY SAVING IN THE SMALL AND IN THE LARGE [J].
KIMBALL, MS .
ECONOMETRICA, 1990, 58 (01) :53-73