Céspedes Reynaga, Nikita; Rendon, Silvio - 2012
instrumental variable for wages. We use Peruvian data from the Permanent Employment Survey of Lima. We find that neglecting wage … Frisch elasticity. We estimate Frisch elasticity at around 0.38, which indicates fairly adjustable wages and little reaction … of hours of work to wage variations. Moreover, we find that the Frisch elasticity is decreasing in income and tended to …