Human capital and the intertemporal substitution for leisure : empirical evidence for Spain
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/28554 |
Resumo: | In this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones. |
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Human capital and the intertemporal substitution for leisure : empirical evidence for SpainEuler equationInstrumental variablesIntertemporal substitution for leisurePanel dataIn this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones.SpringerRepositório da Universidade de LisboaCutanda, AntonioSanchis‑Llopis, Juan A.2023-09-12T14:17:18Z20232023-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/28554engCutanda, Antonio and Juan A. Sanchis‑Llopis (2023). "Human capital and the intertemporal substitution for leisure : empirical evidence for Spain". Portuguese Economic Journal, 22(3):377-3961617-982X10.1007/s10258-022-00225-yinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-09-17T01:31:39Zoai:www.repository.utl.pt:10400.5/28554Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:29:27.140908Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
title |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
spellingShingle |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain Cutanda, Antonio Euler equation Instrumental variables Intertemporal substitution for leisure Panel data |
title_short |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
title_full |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
title_fullStr |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
title_full_unstemmed |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
title_sort |
Human capital and the intertemporal substitution for leisure : empirical evidence for Spain |
author |
Cutanda, Antonio |
author_facet |
Cutanda, Antonio Sanchis‑Llopis, Juan A. |
author_role |
author |
author2 |
Sanchis‑Llopis, Juan A. |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Cutanda, Antonio Sanchis‑Llopis, Juan A. |
dc.subject.por.fl_str_mv |
Euler equation Instrumental variables Intertemporal substitution for leisure Panel data |
topic |
Euler equation Instrumental variables Intertemporal substitution for leisure Panel data |
description |
In this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-09-12T14:17:18Z 2023 2023-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/28554 |
url |
http://hdl.handle.net/10400.5/28554 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Cutanda, Antonio and Juan A. Sanchis‑Llopis (2023). "Human capital and the intertemporal substitution for leisure : empirical evidence for Spain". Portuguese Economic Journal, 22(3):377-396 1617-982X 10.1007/s10258-022-00225-y |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer |
publisher.none.fl_str_mv |
Springer |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799133562488750080 |