LabourSupply_2perpage

LabourSupply_2perpage - Econ 1002: Applied Economics...

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Unformatted text preview: Econ 1002: Applied Economics Matthew Wakefield University College London and Institute for Fiscal Studies m.wakefield (at) ucl.ac.uk Jan - Mar 2009 Oce Hour: Tues 3-3.55, Room 209, Drayton www.ucl.ac.uk/economics/degree-courses/undergraduate/course-list/courses/econ1002 coursepage or link from: www.ucl.ac.uk/economics/degree-courses/undergraduate/course-list/courses/applied-economics Thanks to the previous two lecturers, Professors Ian Preston and James Banks, for much of the content of this course. Revised Timetable Week Beginning Tues 1600 1700 Tues 1700 1800 Wed 0900 1000 Class 1 12 th Jan Lect. 01 Lect. 02 Lect. 03 2 19th Jan Lect. 04 Class 1 3 26th Jan Lect. 05 Lect. 06 4 2nd Feb Lect. 07 Lect. 08 Lect. 09 Class 2 5 9th Feb Lect. 10 Practical Lect. 01 6 16th Feb Reading Week 7 23rd Feb Labour Supply Labour Supply Labour Supply Class 3 8 2nd Mar Cons / Saving Cons / Saving Cons / Saving 9 9th Mar Diff in Diffs Diff in Diffs Practical Lect. 02 Class 4 10 16th Mar Practical Lect. 03 Practical Lect. 04 11 23rd Mar Lect. 19 (Revision) Lect. 20 (Revision) Practical Lect. 05 Class 5 Lectures, MW, Christopher Ingold Revision Lectures, MW, Christopher Ingold Practical Lectures, MW, Christopher Ingold Classes/tutorials, with class teachers Econ 1002 Matthew Wakefield background Issues / set up Why interested? Outline Framework Budget LS choice Financial Income The wage rate Slutsky equation Demographics Estimation Quadratic Back bend +ve subs? Elasticity Problems non-workers Others IV: Labour Supply Matthew Wakefield (UCL/IFS) Econ 1002 Jan - Mar 2009 3 / 33 Econ 1002 Matthew Wakefield background Issues / set up Why interested? Outline Framework Budget LS choice Financial Income The wage rate Slutsky equation Demographics Estimation Quadratic Back bend +ve subs? Elasticity Problems non-workers Others background Issues / set up Q: How much labour do agents want to supply to market? How is this inuenced by: Financial incentives: Wage rate Financial incentives: Other income Role of preferences Role of household characteristics Need a framework to think about this Application of theory of consumer demand w. 2 goods Goods are leisure and consumption Matthew Wakefield (UCL/IFS) Econ 1002 Jan - Mar 2009 4 / 33 Econ 1002 Matthew Wakefield background Issues / set up Why interested? Outline Framework Budget LS choice Financial Income The wage rate Slutsky equation Demographics Estimation Quadratic Back bend +ve subs? Elasticity Problems non-workers Others background Why interested? 1 Employers care Want to know how to get individuals to supply hours 2 It matters for policy Changing taxes on labour income changes incentives to work Benefit withdrawal as income increases has a similar effect Setting tax and benefit withdrawal rates trades off raising revenue and redistribution, against disincentives to work Will recent move to higher tax rates at the top raise any revenue?...
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This note was uploaded on 03/03/2010 for the course ECON 1002 taught by Professor Matthewwakefield during the Spring '09 term at UCL.

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LabourSupply_2perpage - Econ 1002: Applied Economics...

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