Human capital and the intertemporal substitution for leisure: empirical evidence for Spain

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

Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men

The aim of this paper is testing the three first-order conditions of an intertemporal optimization model for a representative individual who chooses simultaneously for her level of consumption and leisure, assuming a separable utility function. We estimate these conditions jointly in a system of equations, using a Spanish pseudo-panel data set built by combining the Family Expenditure Survey and the Labor Survey over the period 1987–1997. Our results are in line with previous empirical evidence as regards the elasticity of intertemporal substitution for consumption, as our estimate for this elasticity is between 0.4 and 0.5. Further, we also obtain the first estimate for Spain of the intertemporal elasticity of leisure. This value is above 0.3, and is comparable to other estimates found for other economies

Població de dret i de fet: Una discussió al voltant de les dades registrades al País Valencià

SE ESTUDIAN LAS VICISITUDES DE LA DIFERENCIA REAL ENTRE "POBLACION DE DERECHO" Y "POBLACION DE HECHO" EN LOS CENSOS Y PADRONES DEL PAIS VALENCIANO, CON ESPECIAL ATENCION AL IMPACTO DE LA MOVILIDAD VACACIONAL A PARTIR DE 1975. CRISIS, TURISMO EXTRANJERO Y ESTACIONALIDAD SON FACTORES QUE TAMBIEN DEBEN SER TENIDOS EN CUENTA. (A