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Using Labor Supply Elasticities To Learn About Income Inequality : The Role Of Productivities Versus Preferences / Bergstrom, Katy.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Bergstrom, Katy.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Elasticity.
- Income Inequality.
- Inequality.
- Labor Markets.
- Labor Productivity.
- Labor Supply.
- Poverty Reduction.
- Preference.
- Public Sector Development.
- Social Protections and Labor.
- Local Subjects:
- Elasticity.
- Income Inequality.
- Inequality.
- Labor Markets.
- Labor Productivity.
- Labor Supply.
- Poverty Reduction.
- Preference.
- Public Sector Development.
- Social Protections and Labor.
- Physical Description:
- 1 online resource (73 pages)
- Other Title:
- Using Labor Supply Elasticities To Learn About Income Inequality
- Place of Publication:
- Washington, D.C. : The World Bank, 2020.
- System Details:
- data file
- Summary:
- This paper argues that labor supply elasticities encode information about the determinants of income inequality. In the theoretical framework, individuals choose labor supply conditional on productivities and preferences for consumption relative to leisure. The paper shows that reduced-form labor supply elasticities allow one to isolate the components of income due to productivities versus preferences. The paper then investigates what labor supply elasticities imply about the importance of productivities versus preferences in the United States. Estimates from the literature imply productivities drive most of income inequality. Larger income effects and larger differences between income and hours worked elasticities imply preferences play an increasingly important role.
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