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the micro level means that the aggregate labour supply elasticity is not a structural parameter: any aggregate elasticity …
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the micro level means that the aggregate labour supply elasticity is not a structural parameter: any aggregate elasticity …
Persistent link: https://www.econbiz.de/10012457352
We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both...
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We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both...
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