The Labor Supply Response to (Mismeasured but) Predictable Wage Changes
利用PSID验证研究数据修正非经典测量误差，发现工资中存在大量可预测变化，但劳动力供给对此几乎没有反应，说明测量误差无法解释低劳动供给弹性估计。
Most panel data studies of intertemporal labor supply assume classical measurement error. Recent validation studies refute this assumption. In this study I address non-classical measurement error explicitly. I use data on males from the Panel Study of Income Dynamics Validation Study to purge measurement error from the Panel Study of Income Dynamics. I nd a large amount of predictable wage variation in the data, even after accounting for measurement error. However, there is almost no labor supply response to these predictable wage changes. Therefore, failure to control for non-classical measurement error cannot explain the low estimated labor supply elasticities in other papers.