Ngai, L. Rachel and Pissarides, Christopher ORCID: 0000-0002-0695-058X
(2008)
Trends in hours and economic growth.
Review of Economic Dynamics, 11 (2).
pp. 239-256.
ISSN 1094-2025
Abstract
We study substitutions between home and market production over long periods of time. We use the results to get predictions about long-run trends in aggregate market hours of work and about employment shifts across economic sectors, driven by uneven TFP growth in market and home production. The model can rationalize the observed falling or U-shaped pattern for aggregate market hours, the complete marketization of home production in agriculture and manufacturing, and the employment shift from agriculture and manufacturing to services. We find support for the model’s predictions in long-run US data.
Item Type: |
Article
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Official URL: |
http://www.sciencedirect.com/science/journal/10942... |
Additional Information: |
© 2008 Elsevier |
Divisions: |
Centre for Economic Performance Economics |
Subjects: |
H Social Sciences > HB Economic Theory |
JEL classification: |
J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J22 - Time Allocation and Labor Supply O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J21 - Labor Force and Employment, Size, and Structure O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models |
Date Deposited: |
13 Mar 2008 16:48 |
Last Modified: |
24 Sep 2024 16:03 |
URI: |
http://eprints.lse.ac.uk/id/eprint/3828 |
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