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Author: Porter, Richard D.
Resulting in 5 citations.
1. Fleisher, Belton M.
Parsons, Donald O.
Porter, Richard D.
Asset Adjustments and Labor Supply of Older Workers
In: Income Maintenance and Labor Supply-Econometric Studies. G. Cain, et. al., eds.Madison, WI: Institute for Research on Poverty, University of Wisconsin - Madison, 1973
Cohort(s): Older Men
Publisher: Institute for Research on Poverty (IRP), University of Wisconsin - Madison
Keyword(s): Assets; Behavior; Income Dynamics/Shocks; Labor Supply

Permission to reprint the abstract has not been received from the publisher.

This paper focuses on the hypothesis that empirical research on labor supply, with reference to males in the age group where work is the normal mode of behavior, has suffered from the lack of an adequate formulation of the role of nonemployment sources of purchasing power in affecting labor-supply decisions. Recent extensions of the classical labor-supply model, that have proved fruitful in increasing understanding of the behavior of other groups in the work force, appear to be of little help in understanding the behavior of older primary workers--males between ages 45-59. This paper concentrates on the role of nonhuman assets and nonemployment income in the labor supply function of older workers. The authors present the derivation and empirical estimation of two variants of an asset-adjustment model of labor supply and develop a system of labor-supply equations in which hours of work for an individual are determined by wage rate and the difference between the actual and desired stock of nonhuman assets. The value of assets conditions work decisions principally relative to some desired asset level rather than through its level alone. A large number of the regressions yielded estimates of the labor-supply parameters that are quite plausible. In many of the regressions, the internal consistency is quite good. However, in the more complex model, in which the authors attempt to incorporate transitory wage effects as well, the results appear suspect. The major empirical problem uncovered in this study is the high sensitivity of labor supply estimates to different definitions of a given variable and to different sample compositions. This may be a characteristic of male workers in this age group, 45 to 59, because more traditional models suffer from the same problem. The results imply that dynamic aspects of asset adjustments cannot be ignored. Because the expected time path of supply responses depends critically on the asset value of the NIT program, one must conclude the inferences drawn from experimental short-term programs are likely to underestimate the impact on labor supply.
Bibliography Citation
Fleisher, Belton M., Donald O. Parsons and Richard D. Porter. "Asset Adjustments and Labor Supply of Older Workers" In: Income Maintenance and Labor Supply-Econometric Studies. G. Cain, et. al., eds.Madison, WI: Institute for Research on Poverty, University of Wisconsin - Madison, 1973
2. Fleisher, Belton M.
Parsons, Donald O.
Porter, Richard D.
Dynamic Analysis of the Labor Force Behavior of Men and Youth
Final Report, Employment and Training Administration, U.S. Department of Labor, 1972
Cohort(s): Older Men, Young Men
Publisher: U.S. Department of Labor
Keyword(s): Schooling; Unemployment Rate; Wages; Work Attitudes

A theoretical and empirical analysis is made of the labor force behavior of males aged 14-24 and 45-59. The economic forces (including wealth, wage rate, and unemployment rate) which influence the work and schooling decisions of males are examined, and the empirical importance of these and other factors is determined using data from the Older Men and Young Men.
Bibliography Citation
Fleisher, Belton M., Donald O. Parsons and Richard D. Porter. "Dynamic Analysis of the Labor Force Behavior of Men and Youth." Final Report, Employment and Training Administration, U.S. Department of Labor, 1972.
3. Fleisher, Belton M.
Porter, Richard D.
Assets, Non-employment Income, and Alternative Models of Labor Supply
Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1971
Cohort(s): Older Men
Publisher: Center for Human Resource Research
Keyword(s): Assets; Income Dynamics/Shocks; Labor Supply

The report is based on a very limited portion of the NLS data collected in the first two surveys of the older group of men in mid-1966 and mid-1967. Previous reports-The Pre-Retirement Years, Volume I (1968) and Volume II (1969)--contain more comprehensive presentations of the findings of those surveys, based entirely on tabular analysis. Here the focus is narrower and the analysis is more intensive. Professors Fleisher and Porter describe their progress to date in an investigation of the factors influencing the amount of labor supplied by men 45-59. Their aim is to estimate parameters of the labor supply function for individual workers. Such estimates are of interest because of their relationship to important propositions of economic theory, and because labor market policy can be designed properly only if the structure of labor market relationships is well understood. In this report, Fleisher and Porter make full use of the longitudinal nature of the surveys, having developed an analytical framework especially well-suited to take advantage of the unique characteristics of these data. They develop several alternative models, evaluate their results, and show how they are of use in estimating the work disincentive effects of a "negative income tax".
Bibliography Citation
Fleisher, Belton M. and Richard D. Porter. "Assets, Non-employment Income, and Alternative Models of Labor Supply." Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1971.
4. Fleisher, Belton M.
Porter, Richard D.
Labor Supply of Males 45-59: A Preliminary Report
Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1970
Cohort(s): Older Men
Publisher: Center for Human Resource Research
Keyword(s): Behavior; Blue-Collar Jobs; Family Income; Health/Health Status/SF-12 Scale; Labor Force Participation; Marital Status; Urbanization/Urban Living; Wages; Wives, Work

This report, based on data collected during the 1966 and 1967 surveys of Older Men, describes the authors' progress in investigating the factors influencing the amount of labor supplied by men aged 45-59. In this preliminary report, the authors discuss the behavior of blue-collar workers living in metropolitan areas. Although the results so far are disappointing when evaluated against the criterion of estimating a general labor supply relationship, interesting results have emerged for a small subgroup of men. Briefly, the amount of labor supplied by unmarried black men shows a much stronger inverse relationship with wage rates and nonlabor sources of income and is much more sensitive to labor market conditions than that of any other subgroup of men studied. If these findings withstand further scrutiny, they may be useful in helping to decide the appropriate mix of policies to help alleviate poverty, particularly in urban areas. For example, the authors speculate that if undesirable disincentive effects of income-maintenance schemes are to be avoided, it may be "necessary to provide an environment within which increased attachment to the legitimate labor market is stimulated by training of workers and encouraging employers to provide more attractive working conditions."
Bibliography Citation
Fleisher, Belton M. and Richard D. Porter. "Labor Supply of Males 45-59: A Preliminary Report." Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1970.
5. Porter, Richard D.
On the Use of Survey Sample Weights in the Linear Model
Annals of Economic and Social Measurement 2,2 (April 1973): 141-158.
Also: http://www.nber.org/chapters/c9887.pdf
Cohort(s): Older Men
Publisher: National Bureau of Economic Research (NBER)
Keyword(s): Research Methodology

If individuals have different coefficients in a linear model, then the choice of regression technique for estimating population averages depends on the sample design. Various estimators of the random coefficient model for panel data are examined where the random component arises from the random selection of individuals out of a finite population.
Bibliography Citation
Porter, Richard D. "On the Use of Survey Sample Weights in the Linear Model." Annals of Economic and Social Measurement 2,2 (April 1973): 141-158.