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What is the Frisch elasticity, given by log(h) holding consumption constant? log(w) [Hint: Combine the two FOCs to substitute our the Lagrange multiplier and then
What is the Frisch elasticity, given by log(h) holding consumption constant? log(w) [Hint: Combine the two FOCs to substitute our the Lagrange multiplier and then write hours worked as a function of the wage (and consumption).]
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
