4 votes

elasticity of labor supply

We have that: $$ L(s,H) = \frac{f(\theta)}{s + f(\theta)}H. $$ Take the derivative with respect to $\theta$: $$ \frac{\partial L}{\partial \theta} = \frac{f'(\theta)}{s + f(\theta)}H - \frac{f(\theta)}...
tdm's user avatar
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2 votes

What exactly is an exogenous stationary distribution?

Here is explanation for the terms: Exogenous - determined outside the system/model being studied. For example, if you study macroeconomic model without explicitly modelling weather patterns, bad ...
1muflon1's user avatar
  • 56.4k

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