Alternative approaches to discrete working time choice in an AGE framework |
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Authors: | Melanie Arntz Stefan Boeters Nicole Gürtzgen |
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Institution: | aCentre for European Economic Research, Mannheim, Germany |
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Abstract: | We compare two options of integrating discrete working time choice of heterogenous households into a general equilibrium model. The first, known from the literature, produces household heterogeneity through a working time preference parameter. We contrast this with a model that directly incorporates a logit discrete-choice approach into an AGE framework. On the grounds of both calibration consistency and adequate accommodation of within-household interaction, we argue that the logit approach is preferable. |
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Keywords: | Applied general equilibrium Discrete working time choice Labour market Wage bargaining Labour market reform Logit model |
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