Electronic Resource
Springer
Empirical economics
22 (1997), S. 431-460
ISSN:
1435-8921
Keywords:
Labor supply
;
Monte Carlo simulation
;
C15
;
J22
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract In the area of labor supply and taxes advanced microeconometric methods have been developed in order to measure wage and income elasticities. Large variations in estimated elasticities have previously been reported in the literature. The purpose of the present study is to assess the sources for these discrepancies, and propose a robust estimator. According to our findings the commonly used maximum-likelihood estimator is sensitive to measurement errors in those variables that are needed in order to construct the individuals' budget sets. An iterative least squares estimator is preferred in small samples under several forms of specification and measurement errors.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF01208832
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