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Human capital and the intertemporal substitution for leisure: empirical evidence for Spain

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Human capital and the intertemporal substitution for leisure: empirical evidence for Spain

dc.contributor.author	Cutanda Tarín, Antonio
dc.contributor.author	Sanchis Llopis, Juan Alberto
dc.date.accessioned	2023-03-07T12:01:04Z
dc.date.available	2023-03-08T05:45:06Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Cutanda, A., Sanchis-Llopis, J.A. Human capital and the intertemporal substitution for leisure: empirical evidence for Spain. Port Econ J (2022).	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/85695
dc.description.abstract	In this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Springer	es_ES
dc.subject	euler equation	es_ES
dc.subject	instrumental variables	es_ES
dc.subject	intertemporal substitution for leisure	es_ES
dc.subject	panel data	es_ES
dc.title	Human capital and the intertemporal substitution for leisure: empirical evidence for Spain	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1007/s10258-022-00225-y	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES