Family labor supply and aggregate fluctuations

Jang Ok Cho, Richard Rogerson

Research output: Contribution to journalArticlepeer-review

44 Scopus citations


This paper considers an economy which is populated by a continuum of identical families consisting of two members. The two members have different productivities and the family faces a fixed utility cost if both members supply labor simultaneously. Although both family members have the same preferences, they display very different elasticities of labor supply. A real business cycle model is calibrated and it is seen that this cross-sectional heterogeneity results in interesting forms of aggregation bias.

Original languageEnglish (US)
Pages (from-to)233-245
Number of pages13
JournalJournal of Monetary Economics
Issue number2-3
StatePublished - 1988
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics


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