Household production and the ealsticity of marginal utility of consumption

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Thureson, Disa;
  • Publisher: Stockholm : Centre for Transport Studies
  • Journal: Publikationer från Örebro universitet (issn: _____384)
  • Publisher copyright policies & self-archiving
  • Subject: Elasticity of marginal utility of consumption | Household production | Labor supply | Coefficient of relative risk aversion | Consumer behavior | Economics | Nationalekonomi

Chetty (2006) developed a new method of estimating the Elasticity of Marginal Utility of Consumption (EMUC) from observed work time responses to wage changes and derived an upper bound of 2 for this parameter. Here I show that the omission of household production in Che... View more
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