@unpublished{Cesarinietal2015,
  title = {The Effect of Wealth on Individual and Household Labor Supply: Evidence from Swedish Lotteries},
  author = {Cesarini, David and Lindqvist, Erik and Notowidigdo, Matthew J. and {\"O}stling, Robert},
  year = {2015},
  url = {https://www.ifn.se/eng/publications/wp/2015/1094},
  abstract = {We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. We find winning a lottery prize modestly reduces labor earnings, with the reduction being immediate, persistent, and similar by age, education, and sex. A calibrated dynamic model of individual labor supply implies an average lifetime marginal propensity to earn out of unearned income of -0.11, 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.},
  keywords = {Impacts of Wealth Inequality},
  note = {Unpublished manuscript}
}

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