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The Labor Wedge: MRS vs. MPN

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NBER2013-05-01 更新2025-01-04 收录
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Do fluctuations of the labor wedge, defined as the gap between the firm's marginal product of labor (MPN) and the household's marginal rate of substitution (MRS), reflect fluctuations of the gap between the MPN and the real wage or fluctuations of the gap between the real wage and the MRS? For many

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2013-05-01
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