Construct · 1 fields · 1 citations

labor wedge: a standalone construct

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Macroeconomics

the gap between the marginal rate of substitution of consumption for leisure and the marginal product of labor, which moves strongly over the cycle.

In macroeconomics, labor wedge refers to the gap between the marginal rate of substitution of consumption for leisure and the marginal product of labor, which moves strongly over the cycle. This meaning comes from Shimer (2009) in American Economic Journal: Macroeconomics.[1]

Unit
Recovery means
Measured by

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Nearby constructs

consumption3 fields · 5 citationsjingle · one word, three constructs cycle4 fields · 4 citationsjingle · one word, four constructs labor4 fields · 4 citationsjingle · one word, four constructs

References

Shimer, R. (2009). Convergence in Macroeconomics: The Labor Wedge. American Economic Journal: Macroeconomics, 1(1), 280-297. https://doi.org/10.1257/mac.1.1.280

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