Replication data for: The Effect of Wealth on Individual and Household Labor Supply: Evidence from Swedish Lotteries

Principal Investigator(s): View help for Principal Investigator(s) David Cesarini; Erik Lindqvist; Matthew J. Notowidigdo; Robert Östling

Version: View help for Version V1

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Project Citation:

Cesarini, David, Lindqvist, Erik, Notowidigdo, Matthew J., and Östling, Robert. Replication data for: The Effect of Wealth on Individual and Household Labor Supply: Evidence from Swedish Lotteries. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116181V1

Project Description

Summary: We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. Winning a lottery prize modestly reduces earnings, with the reduction being immediate, persistent, and quite similar by age, education, and sex. A calibrated dynamic model implies lifetime marginal propensities to earn out of unearned income from -0.17 at age 20 to -0.04 at age 60, and labor supply elasticities in the lower range of previously reported estimates. The earnings response is stronger for winners than their spouses, which is inconsistent with unitary household labor supply models.

Scope of Project

JEL Classification:
      D14 Household Saving; Personal Finance
      J22 Time Allocation and Labor Supply
      J31 Wage Level and Structure; Wage Differentials

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V1 [2019-12-07]

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