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Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men

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Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men

dc.contributor.author	Cutanda Tarín, Antonio
dc.contributor.author	Sanchis Llopis, Juan Alberto
dc.date.accessioned	2023-09-26T08:48:22Z
dc.date.available	2023-09-27T04:45:06Z
dc.date.issued	2021	es_ES
dc.identifier.citation	Cutanda, A., Sanchis-Llopis, J.A. Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men. Eurasian Econ Rev 11, 611–629 (2021).	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/89661
dc.description.abstract	The aim of this paper is testing the three first-order conditions of an intertemporal optimization model for a representative individual who chooses simultaneously for her level of consumption and leisure, assuming a separable utility function. We estimate these conditions jointly in a system of equations, using a Spanish pseudo-panel data set built by combining the Family Expenditure Survey and the Labor Survey over the period 1987–1997. Our results are in line with previous empirical evidence as regards the elasticity of intertemporal substitution for consumption, as our estimate for this elasticity is between 0.4 and 0.5. Further, we also obtain the first estimate for Spain of the intertemporal elasticity of leisure. This value is above 0.3, and is comparable to other estimates found for other economies.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Springer Link	es_ES
dc.subject	euler equation	es_ES
dc.subject	instrumental variables	es_ES
dc.subject	intertemporal substitution	es_ES
dc.subject	panel data	es_ES
dc.title	Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1007/s40822-021-00176-3	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES