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Female Labor Supply, Human Capital and Welfare Reform

Blundell, R; Costa Dias, M; Meghir, C; Shaw, J; (2016) Female Labor Supply, Human Capital and Welfare Reform. Econometrica , 84 (5) pp. 1705-1753. 10.3982/ECTA11576. Green open access

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Abstract

We estimate a dynamic model of employment, human capital accumulation—including education, and savings for women in the United Kingdom, exploiting tax and benefit reforms, and use it to analyze the effects of welfare policy. We find substantial elasticities for labor supply and particularly for lone mothers. Returns to experience, which are important in determining the longer-term effects of policy, increase with education, but experience mainly accumulates when in full-time employment. Tax credits are welfare improving in the U.K., increase lone-mother labor supply and marginally reduce educational attainment, but the employment effects do not extend beyond the period of eligibility. Marginal increases in tax credits improve welfare more than equally costly increases in income support or tax cuts.

Type: Article
Title: Female Labor Supply, Human Capital and Welfare Reform
Open access status: An open access version is available from UCL Discovery
DOI: 10.3982/ECTA11576
Publisher version: http://dx.doi.org/10.3982/ECTA11576
Language: English
Additional information: Copyright © 2016 The Econometric Society. The copyright to this article is held by the Econometric Society, http://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society. For this purpose, contact the Editorial Office of the Econometric Society at econometrica@econometricsociety.org.
Keywords: Life-cycle model, human capital, education, learning by doing, female labor supply, part time work, income tax, negative income tax, subsidies
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/1520417
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