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Labour Supply Status and Intertemporal Behaviour: Evidence from Spanish panel data

Author

Listed:
  • Antonio Cutanda

    (Universidad de Valencia, Valencia, Spain)

  • Juan A. Sanchis

    (Universidad de Valencia and ERICES, Valencia, Spain)

Abstract

In this paper, we estimate the intertemporal substitution for consumption and leisure in Spain. We use the standard intertemporal optimisation consumption model with an intratemporally separable utility function, using different population groups: employees, self-employed, unemployed or retired people. Further, we analyse if the elasticity of intratemporal substitution for leisure is affected by the individual labour status (temporary workers vs fixed-term contract workers). For this purpose, we use the panel of the Spanish Survey on Household Finances (Encuesta Financiera de las Familias, SHF), covering the period 2002- 2017. The results we obtain confirm that both intertemporal substitution elasticities for consumption and leisure are different depending on individuals’ labour status and the labour contract’s characteristics, such as the duration of the contract (temporary versus fixed-term) or the degree of uncertainty about the future.

Suggested Citation

  • Antonio Cutanda & Juan A. Sanchis, 2024. "Labour Supply Status and Intertemporal Behaviour: Evidence from Spanish panel data," Working Papers 2408, Department of Applied Economics II, Universidad de Valencia.
    • Handle: RePEc:eec:wpaper:2408
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    More about this item

    Keywords

    Euler Equation; Instrumental variables; Intertemporal Substitution for consumption and leisure; Panel data;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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