Labor supply with stochastic wage rate and non-labor income uncertainty
Wang Jianli
Labor supply with stochastic wage rate and non-labor income uncertainty created by Jianli Wang and Pu Gong - Journal of Economics Volume 109, number 1 .
This paper deals with the labor supply problem in the contemporaneous presence of wage rate and non-labor income uncertainties. We examine the effect of a stochastic wage rate(a non-labor income uncertainty) on labor supply in the presence of a non-labor income uncertainty(a stochastic wage rate) and provide some conditions of utility function for assuring larger labor supply. We study the joint effect of two types of uncertainty on labor supply when two risks are either small or positive quadrant dependent. Our work extends the previous model of labor supply to two-risk framework and shows some new explorations on the classical issue of labor supply under uncertainty.
09318658
Labor supply--Non-labor income uncertainty--Stochastic wage rate
HB171.5 JOU
Labor supply with stochastic wage rate and non-labor income uncertainty created by Jianli Wang and Pu Gong - Journal of Economics Volume 109, number 1 .
This paper deals with the labor supply problem in the contemporaneous presence of wage rate and non-labor income uncertainties. We examine the effect of a stochastic wage rate(a non-labor income uncertainty) on labor supply in the presence of a non-labor income uncertainty(a stochastic wage rate) and provide some conditions of utility function for assuring larger labor supply. We study the joint effect of two types of uncertainty on labor supply when two risks are either small or positive quadrant dependent. Our work extends the previous model of labor supply to two-risk framework and shows some new explorations on the classical issue of labor supply under uncertainty.
09318658
Labor supply--Non-labor income uncertainty--Stochastic wage rate
HB171.5 JOU