implications for how aggregate labor supply responds to changes in taxes. In the first model, curvature in the utility from leisure … extent of curvature in the utility from leisure function …

implications for how aggregate labor supply responds to changes in taxes. In the first model, curvature in the utility from leisure … extent of curvature in the utility from leisure function …

. Coordination takes the form of internalising the leisure externality and other relevant constraints (e.g., labour demand). The …We examine how openness interacts with the coordination of consumption-leisure decisions in determining the equilibrium … working hours and wage rate when there are leisure externalities (e.g., due to social interactions). The latter are modelled …

from leisure function plays relatively little role in determining the overall change in hours worked, whereas in the second … evidence on the extent of curvature in the utility from leisure function"--National Bureau of Economic Research web site …