1. THE SCARCITY OF LABOR MARKETS AND ELDERLY SUPPLY Tinna Laufey Ásgeirsdóttir, Ph.D. Department of economics, University of Iceland

2. Scarcity Economics is sometimes called the study of scarcity The underlying problem of all or work Scarcity in the context of elderly labor supply –Fallacy of labor scarcity –Lump of labor fallacy –Zero-sum fallacy

3. Life-cycle income and expenditures Expenditures

4. Life-cycle income and expenditures Expenditures

5. Life-cycle income and expenditures Expenditures

6. Life-cycle income and expenditures Expenditures

7. Life-cycle income and expenditures Expenditures

8. Life-cycle income and expenditures Expenditures

9. What is scarce in this situation?

10. Thank you