Reconciling Micro Elasticities with the Macro Decline in Labor Supply
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Micro estimates of the Marshallian elasticity of labor supply are small and typically positive, whereas cross-country and time-series patterns of hours imply a strong negative relationship between wages and hours. I reconcile these two apparently contradictory observations using a single utility
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美国国家经济研究局创建时间：
2026-06-01
