E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T06:05:15+00:00Reconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor Supply
https://www.bankofcanada.ca/2018/06/staff-working-paper-2018-26/
This note studies a form of a utility function of consumption with habit and leisure that (a) is compatible with long-run balanced growth, (b) hits a steady-state observed target for hours worked and (c) is consistent with micro-econometric evidence for the inter-temporal elasticity of substitution and the Frisch elasticity of labor supply.2018-06-22T11:45:52+00:00enReconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor Supply2018-06-22Business fluctuations and cyclesEconomic modelsLabour marketsStaff Working Paper 2018-26https://www.bankofcanada.ca/wp-content/uploads/2018/06/swp2018-26.pdfReconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor SupplyTom D. HoldenPaul LevineJonathan SwarbrickJune 2018EE2E21E24