A Labor Supply Elasticity Accord?
探讨了宏观劳动供给弹性的争议，提出用更符合微观观察的加总理论替代真实商业周期理论所用的加总方法，以寻求共识。新理论引入生命周期选择，其最终弹性大小取决于冲击与政府制度如何影响工人的职业长度。
A dispute about the size of the aggregate labor supply elasticity has been fortified by a contentious aggregation theory used by real business cycle theorists. The replacement of that aggregation theory with one more congenial to microeconomic observations opens possibilities for an accord about the aggregate labor supply elasticity. The new aggregation theory drops features to which empirical microeconomists objected and replaces them with life-cycle choices. Whether the new aggregation theory ultimately indicates a small or large macro labor supply elasticity will depend on how shocks and government institutions interact to put workers at interior solutions for career length.