Labor Supply and Commodities Demand (A Simultaneous Modelling Based on Application of The Modern Theory of Family Economics)

Proposing a model to explain the concurrent decision making process in
the labor and commodities markets in Iranian urban households is the
main objective of the present paper. The paper starts with introduction of
the concepts of modem theories of family economics, with the view of
expanding the scope of economics well into the households and it comes
to conclusion with specification and fitting of behavioral models
simultaneously estimated for labor supply and commodities demand in
Iranian urban communities.
Iran Statistical Centre data for socio - economic characteristics of the urban households for 1992-95 period is used to compose and analyze the panel data for the proposed econometric modeling .Findings of the paper are significant in specification and selection of a model with stochastic effect of the second type, where the sample estimation results can be generalized to represent the behavior of the society at large, and are capable of indicating longer term coverage in time for findings of a partial study