FEEM-IEFE seminar on Beyond GDP – Modelling Labour Supply in a Multiregional Optimal Growth Model
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This month FEEM-IEFE joint Seminar is dedicated to the inclusion of labour estimates into Integrated Assessment Models, such as WITCH.
Normally, these models base their labour projections on total population estimates, while this study substitutes these approximate figures with comprehensive statistics and projections on the actually active population. Furthermore, the researchers study the implications of an augmented definition of welfare, endogenising in the optimal growth model not only the active population, but also the choice between free time versus labour market time.