Here Comes the Rain Again: Weather and the Intertemporal Substitution of Leisure
利用美国时间使用调查数据，发现雨天男性平均将30分钟从闲暇转向工作，估算出劳动供给的跨期弹性约为0.01，为经典理论提供了新证据。
I revisit the intertemporal labor supply framework, using exogenous variations in daily weather to see how time at work varies with rain. In my model, a rainy day is associated with a lower enjoyment of leisure, effectively increasing wages and bringing more hours at work. I test the model using data from the American Time Use Survey, supplemented with daily weather. I find that, on rainy days, men shift on average 30 minutes from leisure to work. Computations give a rough estimate of the intertemporal elasticity of labor supply of around 0.01, in line with the rest of the literature.