Reconciling Cyclical Movements in the Marginal Value of Time and the Marginal Product of Labor

By R. Hall. Journal of Political Economy, 2009

263 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/0c6d1dffad84a215d61100b37cb3198b544d2d80

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Citations in the corpus

Sales and Monetary Policy (2011, background): “7, which lies in the range of estimates found in the literature (Hall, 2009).”
By How Much Does GDP Rise If the Government Buys More Output? (2009, unknown): “I take the Frisch elasticity of hours per employed worker—the elasticity of h(w)—to be 0.7, based on research surveyed in the appendix to Hall (2009).”
Learning from Prices: Public Communication and Welfare (2010, unknown): “In order to understand better which elasticity matters for welfare, our online appendix presents a variant of our model with frictional unemployment, along the lines of Hall (2009) and Shimer (2010), and where the micro elasticity parameter differs from the macro elasticity.”
Are Micro and Macro Labor Supply Elasticities Consistent? A Review of Evidence on the Intensive and Extensive Margins (2011, unknown): “For instance, macroecono-mists have developed models of indivisible labor in which extensive-margin responses make aggregate-hours elasticities larger than intensive-margin elasticities (Richard Roger-son 1988, Gary D. Hansen 1985, Lars Ljungqvist and Thomas J. Sargent 2006).”
A Theory of Falling Growth and Rising Rents (2019, unknown): “Our paper also relates to Chatterjee and Eyigungor (2019) and Hopenhayn et al. (2018), which study the rise in concentration; to recent papers on declining labor share, in particular Karabarbounis and Neiman (2013, 2018), Barkai (2016), Koh, Santaeulalia-Llopis and Zheng (2016), Eggertsson, Mehrotra”
Gross Worker Flows over the Business Cycle (2017, background): “To move from N to E two things must happen: the individual must experience a change in their idiosyncratic shock that makes them want to work, and they must also receive an employment opportunity.(19) Once again, the change in the probability of receiving an offer is the dominant effect, so that whe”
Precautionary Saving Over the Business Cycle (2016, unknown): “These consumption levels are : c t = wt (1 t) +Rtat 1 at; (17) c t = I + +Rtat 1; (18) c t = wt (1 t) at Rt; (19) c t = I + Rt: (20)”
The Laffer curve revisited (2011, background): “Hall (2009) has recently emphasized the importance of the Frisch demand for consumption c ¼ cðl,wÞ and the Frisch labor supply n ¼ nðl,wÞ, resulting from the usual first-order conditions and the Lagrange multiplier l on the budget constraint, see (11) and (12).”
Monetary Policy and the Redistribution Channel (2017, unknown): “While there is no agreement on its exact value, most studies point to a number between 0 and 2, with some consensus in macroeconomics for a value below 1 (see for example Hall, 2009 or Havránek, 2013).”
The Economic and Policy Consequences of Catastrophes (2013, unknown): “The Appendix to Hall (2009) provides a brief survey of estimates in the literature.”
Unemployment Fiscal Multipliers (2010, background): “Equation (12) links the marginal utility of wealth to the marginal utility of consumption.”