SHERP

A Reexamination on the Theory of Labor Supply with Wage Rate Uncertainty

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Authors
Kim, IlTae
Issue Date
1994
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 7 (No. 1 1994): 23-34
Keywords
compensated effect of risk; pure labor supply model
Abstract
This paper presents a unified reinterpretation of conditions preference derived by a decomposition of the effect of an increase in wage rate risk on labor supply. The compensated effect of risk that keeps expected utility constant is analyzed. The result of this analysis shows that preference conditions sufficient to determine the comparative static effects of risk on labor supply can be expressed in terms of the measure of endogenous partial risk aversion and the wage elasticities for labor supply.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1031
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.07(1) (Spring 1994)
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