Assessing the Empirical Validity of the Intertemporal Labor Supply Response from a Stochastic Overlapping Generations Model with Incomplete Markets

are preliminary and are circulated to stimulate discussion and critical comment. The papers are not subject to CBO’s formal review and editing process. The analysis and conclusions expressed are those of the authors and should not be interpreted as those of the Congressional Budget Office. References in publications should be cleared with the authors. Papers in this series can be obtained from www.cbo.gov/publications. Labor Supply Response in Macroeconomic Models