Bounds on elasticities with optimization frictions : a synthesis of micro and macro evidence on labor supply /
I derive bounds on price elasticities in a dynamic model that is mis-specified due to optimization frictions such as adjustment costs or inattention. The bounds are a function of the observed effect of a price change on demand, the size of the price change, and the degree of frictions. I measure the...
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| Format: | Book |
| Language: | English |
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Cambridge, Mass. :
National Bureau of Economic Research,
c2010
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| Series: | Working paper series (National Bureau of Economic Research) ;
no. 15616 Working paper series (National Bureau of Economic Research) ; working paper no. 15616 |
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