hes: Labor Soppty Der Tine. O K Shake models - time alocahon at € between Work, lecsuve ara houcehst taking aceount of income ore prices. a Dynamic models: Wwe allocate our dime in Aiffetenr Wiay< at Afferent Sages of our Iife- opie. KDeberminants of labor Supply Re long ww In economic Obpoviumdies Omri life eyde ie 6) labour Supply Yes ponte to husiness cycles Obtiming of Velivement decitions (&) ferlity > Kize Of popula [N ost imp. Ackeminant of LS iw Weaue 0LS Orer Tewre, a * Labour Supply Ore Re Life-Cyele, Note :- PV= Yee she hew much heeds to he Inve Hed today to have 7 Rs next year. Lifehime Ubslity - 2- period medel, Ww, oct Ww, - UG L.) ord. V (So's). w. Lifubine whl = UG 4)+ UG uy, 3 [same & for Aiccounhing vbllity ¢ exenings] MU ae Leceure hour in IsFyear = a » de ww » - vA 7 Aa 2” yews vA ‘ 14 «ghee Lt oe Qubh) aa Cc AU/ pt, by | or, Aviat, we Ayal, *OLS over Tax aut, We @ v/a, % #2} 3, > Wa o> Wd Wagec Con Stet Oe dime Sp Somme allo Cabew (bebrem Rel) us yerr | art 2 ‘hk Cmshet ore , Av #9} 271 = AMA ta? Wa, se L, pb, art h>hy. . ese Rate Wak ew yer Apu, 7% J) . \ a -F 2 4: W793, ' be 6, = 3, ore 7, ce Age = LEP low fer yoory wrodteres » nw ww Aer » » high fv primeege ” @: Bw, , = O, a vealihic astimphy?Si 7 cementing inte advertoge 4 el pace of ~ emp. : in ecm raed Aowinaks = w ort bh -vely velabed.. But aw lery-Yun mertels Ww art h aleinge dnove toguker: tohy? _Torn Models =) Aifferent Aw Stohe :- Aw %) TI, oot Spy opportunity Sep Hp increases Bynamic: Aw =? ‘evoluhonary Wage cherge mesoccabed, wilh “ee a given workev j ™~? =~ ogre cek— Workey vily Aw 2 No income - cl cwcnarleelh orth Ke en. eee. = ave at pakLS Orel Time| Caer: a ve Hows of Work orer Life-Cyete fy 2 nrbets unk. Hg oe Pe ic Interlemporrd Dash; 4 Sbshhhe Ake = PA% + 0.V5. B = OMA tvh as Crm agec Ye lntiz OAS wonky ope ies . 22 Kee 62a a pes ; rg . vevetlin® we i oe | a —_— " ci I ee Siew PLS over Tarinre ey a UONR, vndsi-2s Pinreded ? we Cordrverty * Shows Ait couraged bc orars de Counted af uremple rab? we Letvemert : Assume life exp. = 80 yrs t B Bo PV,, + B+ “hee lng 4, +o vere oF Co CPV a Wifes ince tie PV gp = Wes “Lian? o ot op wy Karcemthe pg: retires ab Go, Se he cow Con lore Pvc wey ALF : vebver (dies?) at 20, Con Some PVg, YU, Uo a ‘ _-__, ‘Frode-04 v, E P &o 10 - Yes 4 Reb remenp(onan Rekvement o wt —_ Tp at Se 9 Aelergs ree! Soe bet liferare income T if reb. delay WT Pensions oT ee Se = rekres tavlion (Agee F wot aHected) dar Nfetame WAlonne + by rekrirg Larter ) ‘LS one Tore @ w Fertility tity acc fare by a —Malthys: ‘acsimnl Sccence AY Ts Top. > fret Srpply—> LY -> | fep. uw On Income Sects tm Meatikvs, bur ferblck respmas to Sp as vel =—— X We Beckers feck ty behavior medel :- Y = UCN, X) Ne epchildeey Xs all oker S.4. ‘Le pyNN + PX goods x ASSume bw bx Con Start Ye0 By N lexus Ww S, le O: Do households really look at Conomic. Variables Wher determining — their fechility 2 hnste echimahe? N= B by + 8.0 + mn ; be Somponcedly Unishrically)i» Bo ” even if BL So. |ue Ove shions yz Oueshoons Ye: Qoot Conus of Paden é qk by religions groups Cross- heeled pe ee a a ee Sooltk cuvide - |, Family Sze debate: Car] chovld ja 2- vehi norm de instif ten? { inshor preprence : : the Vanithing a tia : dowry riTAn’ | Ly le “t E [ene ' he / one fom China?) 7 ee iinet