Income and substitution effects in a family labor supply model

Expert InsightsPublished 1966

An analysis of income and relative price (wage rate) effects influencing the quantity of labor supplied to the market. Factors influencing labor supply are used as a foundation for the development of a family labor supply model. The purpose of the model is to specify more precisely the nature of income and relative price effects in labor supply equations and to show how coefficients estimated by using various specifications of regression equations can be interpreted.

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Income and substitution effects in a family labor supply model. Santa Monica, CA: RAND Corporation, 1966. https://www.rand.org/pubs/papers/P3339.html.
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