Total price of labor is all the taxes and costs of an employer including wage.Not in Jorgenson and Wilcoxen's model.
Not in Jorgenson and Wilcoxen's model.
Of course you over look the emperically determined parameratized inputs, that establish the relation between change in tax policy production, prices (including price of labor) and consumer behaviour that of necessity implicitly incorporates all cost factors involved in a change in tax policy.
You know, the unique little twist that distinguishes J&W's IGEM from the run of the mill attempts at macro simulations.
Sorry, YN, but the more you twist and turn the more you are losing ground. Thanks for the opportunites to enlighten folks.