Cociuba, Simona E.; Ueberfeldt, Alexander - In: Journal of Economic Dynamics and Control 52 (2015) C, pp. 75-95
From 1961 to 2007, U.S. aggregate hours worked increased and the labor wedge—measured as the discrepancy between a representative household׳s marginal rate of substitution and the marginal product of labor—declined substantially. The labor wedge is negatively related to hours and is often...
