منابع مشابه
Aggregate Labor Supply
___________________________________________________________________ There have been tremendous advances in macroeconomics, following the introduction of labor supply into the field. Today it is widely acknowledged that labor supply matters for many key economic issues, particularly for business cycles and tax policy analysis. However, the extent to which labor supply matters for such questions ...
متن کاملFamily Labor Supply and Aggregate Saving
I study the impact of idiosyncratic risk on savings and employment in a small open economy populated by two-member families. Families incur a fixed cost of participation when both members are employed. Because of market incompleteness and information asymmetries, this cost coupled with labor market frictions can generate multiple equilibria. In particular, there might be one equilibrium with hi...
متن کاملTowards a micro-founded theory of aggregate labor supply
We build a heterogeneous life-cycle model which captures a large number of salient features of individual labor supply, by education, over the life cycle. The model provides an aggregation theory of individual labor supply, firmly grounded on micro evidence, and is used to study the aggregate labor supply responses to changes in the economic environment. We find that the aggregate labor supply ...
متن کاملCriticisms of Aggregate Demand and Aggregate Supply :
The Aggregate Demand – Aggregate Supply framework has dominated intermediate macroeconomics textbooks since the 1980s. However, there have been 2007). In spite of these criticisms, the ADAS framework had continued to dominate the textbooks, with little or no response to these criticisms. This paper reviews the main criticisms of the ADAS framework, and then focuses on Gregory Mankiw's presentat...
متن کاملAggregate demand and supply
This paper is part of a broader project that provides a microfoundation to the General Theory of J. M. Keynes. I call this project “old Keynesian economics” to distinguish it from new-Keynesian economics, a theory that is based on the idea that to make sense of Keynes we must assume that prices are sticky. I describe a multi-good model in which I interpret the definitions of aggregate demand an...
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ژورنال
عنوان ژورنال: Quarterly Review
سال: 2012
ISSN: 0271-5287
DOI: 10.21034/qr.3521