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"Labor Force Participation, Wage Rates, and Money
Review of Economics and Statistics, May 1971, 164-168.
pdf file (453KB).
This paper uses time series data to examine the effects of wage rates on
labor force participation. It does appear that wage rate effects can be
picked up for some age-sex groups. In a recent study,
1997#1, Diane Macunovich and I have examined
the labor force participation of women 20-24, again using time series data.
This work also picks up significant wage rate effects.
Although there is a limit to the information that can be gleaned from
time series data, the results in these two papers appear to provide
some support to the hypothesis that wage rates affect labor force
participation over time.