Reservation Raises: The Aggregate Labour Supply Curve at the Extensive Margin
通过美国和德国代表性调查，测量了就业边际上的期望劳动供给，提出了保留加薪概念，并发现总劳动供给曲线局部弹性大、整体弹性小且不对称。
Abstract We measure desired labour supply at the extensive (employment) margin in two representative surveys of the U.S. and German populations. We elicit reservation raises: the percent wage change that renders a given individual indifferent between employment and nonemployment. It is equal to her reservation wage divided by her actual, or potential, wage. The reservation raise distribution is the nonparametric aggregate labour supply curve. Locally, the curve exhibits large short-run elasticities above 3, consistent with business cycle evidence. For larger upward shifts, arc elasticities shrink towards 0.5, consistent with quasi-experimental evidence from tax holidays. Existing models fail to match this nonconstant, asymmetric curve.