Frisch elasticity of labor supply
id:
frisch-elasticity-of-labor-supply-286-14867928
title:
Frisch elasticity of labor supply
text:
The Frisch elasticity of labor supply captures the elasticity of hours worked to the wage rate, given a constant marginal utility of wealth. Marginal utility is constant for risk-neutral individuals according to microeconomics. In other words, the Frisch elasticity measures the substitution effect of a change in the wage rate on labor supply. This concept was proposed by the economist Ragnar Frisch after whom the elasticity of labor supply is named. The value of the Frisch elasticity is interpre
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original url:
https://en.wikipedia.org/wiki/Frisch_elasticity_of_labor_supply
date created:
date modified:
2023-11-27T09:30:28Z
main entity:
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13
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