Cyclical Movements along the Labor Supply Function
نویسنده
چکیده
منابع مشابه
Reconciling Cyclical Movements in the Marginal Value of Time and the Marginal Product of Labor
Recessions appear to be times when the marginal rate of substitution between goods and workers’ time falls below the marginal product of labor. If so, the allocation of workers’ time is inefficient. I develop a model of households and production that reconciles cyclical movements in the marginal value of time and the marginal product. The model embodies the findings of research that the Frisch ...
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