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PRODID:-//AMSE//Event Calendar//FR
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UID:event-10405@www.amse-aixmarseille.fr
DTSTAMP:20260421T214153Z
CREATED:20260421T214153Z
LAST-MODIFIED:20260421T214153Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Macro and labor market seminar - Jonna Olsson
DTSTART:20240315T113000Z
DTEND:20240315T123000Z
DESCRIPTION:The aggregate amount of efficiency-weighted labor in the econom
 y depends on both the total number of hours worked and the joint distributi
 on of hours and productivity. From an efficiency perspective\, high-product
 ive individuals should work more. Yet\, differences in actual hours worked 
 across individuals are not so stark. We provide a theory of how the distrib
 ution of hours in the economy relates to the level of insurance households 
 have access to. We use a labor-supply model in which individuals face reali
 stic frictions in the financial market and calibrate it to capture both evi
 dence over time and evidence across countries in terms of labor supply and 
 observed wealth heterogeneity. We show that the model displays a low hours-
 wage correlation\, as in the data\, and that an income effect that dominate
 s the substitution effect is key. We then ask what a frictionless model wit
 h this labor-supply formulation would imply for the distribution of hours w
 orked. With access to perfect insurance\, aggregate labor productivity woul
 d increase by 9.5 percent\, while hours worked would decrease by 7.5 percen
 t.\\n\\nContact: Marco Fongoni: marco.fongoni[at]univ-amu.frFrancesco Gaudi
 o: francesco-saverio.gaudio[at]univ-amu.fr\n\nPlus d'informations: https:/
 /www.amse-aixmarseille.fr/en/events/jonna-olsson-0
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/en/events/jonna-olsson-0
CONTACT:Marco Fongoni: marco.fongoni[at]univ-amu.frFrancesco Gaudio:&nbsp\;
 francesco-saverio.gaudio[at]univ-amu.fr
TRANSP:OPAQUE
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