Marcet, Albert; Obiols-Homs, Francesc; Weil, Philippe - Barcelona Graduate School of Economics (Barcelona GSE) - 2003
constraints and endogenous labor supply. In the exogenous labor supply case (e.g. Aiyagari 1994, Huggett 1997), the presence of … under incomplete markets. We show that if labor hours are endogenous, labor supply is likely to be lower under incomplete …