Im working with a very basic RBC model in my Advance Macro class. It s a typical problem of a social planner choosing consumption levels and hours of work for identical houses, a cobb douglas production function with a TFP shock, and a government expenditure shock.
The assingment is to calculate the elasticity of the labour offer with different forms of utility functions in terms of the log-linealized aproximation of the steady state. I have a specific calibration of some of the parameters, and some free parameters to be calculate. I know how to get the FCO of the level of consumption and of the hours of work, but from that point on, I dont know how to calculate the elasiticity.
Any comment or example will be more than welcomed!