Creator

• Nosal, Ed
• Rogerson, Richard Donald
• Wright, Randall, 1956-

Series

• Staff report (Federal Reserve Bank of Minneapolis. Research Department)

Issue number

• 131

Date created

• 1991-01

Abstract

• A classic result in the theory of implicit contract models with asymmetric information is that “underemployment” results if and only if leisure is an inferior good. We introduce household production into the standard implicit contract model and show that we can have underemployment at the same time that leisure is a normal good.

Corporate Author

• Federal Reserve Bank of Minneapolis. Research Department

Publisher

• Federal Reserve Bank of Minneapolis

Resource type

• Research Paper

DOI

•  https://doi.org/10.21034/sr.131

License

• Creative Commons BY-NC Attribution-NonCommercial 4.0 International

In Collection:

• Staff Reports

Zipped Files

Download a zip file that contains all the files in this work.

Thumbnail	Title	Date Uploaded	Visibility	Actions
	sr131.pdf	2019-10-07	Public	Download