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Modern macroeconomics empirically addresses economy-wide incentives behind economic actions by using insights from the way a single representative household would behave. This analytical approach requires that incentives of the poor and the rich are strictly aligned. In empirical analysis a...
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richer workers demand more low skill-intensive services (such as cleaning and personal services) but also more skill …-intensive services (such as education and professional services). The parametrization of a simple model suggests that this induced demand …
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richer workers demand more low skill-intensive services (such as cleaning and personal services) but also more skill …-intensive services (such as education and professional services). The parametrization of a simple model suggests that this induced demand …
Persistent link: https://www.econbiz.de/10013141699