The workbook sets up the Lucas-Rapping Intertemporal Labor Substitution Model that underlies Real Business Cycle Theory and purports to explain cyclical macro behavior as fluctuations in labor supply.
Enke, Benjamin, and Thomas Graeber. "Cognitive Uncertainty in Intertemporal Choice." NBER Working Paper Series, No. 29577, December 2021. (R&R at The Quarterly Journal of Economics.) ...
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