Boerma, Job; Karabarbounis, Loukas - In: Econometrica 89 (2021) 5, pp. 2517-2556
We revisit the causes, welfare consequences, and policy implications of the dispersion in households' labor market outcomes using a model with uninsurable risk, incomplete asset markets, and home production. Allowing households to be heterogeneous in both their disutility of home work and their...