allow for behavioral substitution between leisure time at home and effort at work. In equilibrium, residing at a location … with a long commute affects the time available for leisure at home and therefore affects the trade-off between effort at … wages, which are both consistent with shirking and leisure being substitutable. …

and Facts The basic model: the consumption/saving choice Allowing for a labor/leisure choice (the RBC model) Allowing for …

and Facts; The basic model: the consumption/saving choice; Allowing for a labor/leisure choice (the RBC model); Allowing …