rate formula as a function of the three corresponding behavioral elasticities. The first elasticity (labor supply) is the … elasticity (avoidance) through tax enforcement and tax neutrality across income forms. The optimal top tax rate increases with … the third elasticity (bargaining) as bargaining efforts are zero-sum in aggregate. We provide evidence using cross …

impact, and its persistence, depend on the ratio of two parameters: the long-run interest rate elasticity of money demand and … the intertemporal substitution elasticity. At the same time, the model has completely classical long-run predictions …

labor supply elasticities were small, recent work has identified three key reasons that the aggregate elasticity may be …

The elasticity of substitution between home and foreign goods is one of the most important parameters in international … trade flows following a change in relative prices, assigns a high value to this parameter. This paper constructs a model … change in relative prices, and home and foreign goods appear as poor substitutes in the short run. In the long run this …

Nordhaus framework as a key input into optimal patent policy design: namely, what is the elasticity of R&D investment with …