ImaiKeaneLifeCycle.bib

@ARTICLE{imaiIntertemporalAccumulation,
  title     = "{Intertemporal labor supply and human capital accumulation}",
  author    = "Imai, Susumu and Keane, Michael P",
  journal   = "International Economic Review",
  publisher = "Wiley",
  volume    =  45,
  number    =  2,
  pages     = "601--641",
  abstract  = "We solve and estimate a dynamic model that allows agents to
               optimally choose their labor hours and consumption and that
               allows for both human capital accumulation and savings.
               Estimation results and simulation exercises indicate that the
               intertemporal elasticity of substitution is much higher than the
               conventional estimates and the downward bias comes from the
               omission of the human capital accumulation effect. The human
               capital accumulation effect renders the life-cycle path of the
               shadow wage relatively flat, even though wages increase with age.
               Hence, a rather flat life-cycle labor supply path can be
               reconciled with a high intertemporal elasticity of substitution.",
  month     =  may,
  year      =  2004,
  url       = "http://dx.doi.org/10.1111/j.1468-2354.2004.00138.x",
  file      = "All-Papers/Other/Imai+Keane-Intertemporal-labor-supply-and-human-capital-accumulation.pdf",
  doi       = "10.1111/j.1468-2354.2004.00138.x",
  issn      = "0020-6598,1468-2354",
  language  = "en"
}