Individual and Aggregate Labor Supply in Heterogeneous Agent Economies with Intensive and Extensive Margins

We study business cycle fluctuations in heterogeneous-agent general equilibrium models that feature both intensive and extensive margins of labor supply. A nonconvexity in the mapping between time devoted to work and labor services combined with idiosyncratic shocks generates operative extensive and...

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Veröffentlicht in:	NBER Working Paper Series 2018-09, p.24985
Hauptverfasser:	Kim, Sun-Bin, Chang, Yongsung, Kwon, Kyooho, Rogerson, Richard
Format:	Artikel
Sprache:	eng
Schlagworte:	Business cycles Economic Fluctuations and Growth Economic models Economic theory Efficiency Employment Households Labor supply Volatility
Online-Zugang:	Volltext
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