Interpreting Labor Supply Regressions in a Model of Full- and Part-Time Work
构建了一个允许劳动供给在集约边际和扩展边际调整的家庭模型，其中集约边际仅限全职和兼职两种选择。利用校准模型的稳态模拟数据，检验标准劳动供给回归能否揭示跨期劳动供给弹性的真实值。发现估计弹性为正且对女性更大、高度显著，但与潜在偏好参数几乎无关。
We construct a family model of labor supply that features adjustment along both the intensive and extensive margin. Intensive margin adjsutment is restricted to two values: full-time work and part-time work. Using simulated data from the steady state of the calibrated model, we examine whether standard labor supply regressions can uncover the true value of the intertemporal elasticity of labor supply parameter. We find positive estimated elasticities that are larger for women and that are highly significant, but they bear virtually no relationship to the underlying preference parameters.