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Rising inequality and trends in leisure

Boppart, Timo and Ngai, L. Rachel (2017) Rising inequality and trends in leisure. Discussion Paper Series (DP12325). Centre for Economic Policy Research, London, UK.

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Abstract

This paper develops a model that generates rising average leisure time and increasing leisure inequality along a path of balanced growth. Households derive utility from three sources: market goods, home goods and leisure. Home production and leisure are both activities that require time and capital. Households allocate time and capital to these non-market activities, work and rent capital out to the market place. The dynamics are driven by activity-specific TFP growth and a spread in the distribution of household-specific labor market efficiencies. When the spread is set to match the increase in wage inequality across education groups, the model can account for the observed average time series and cross-sectional dynamics of leisure time in the U.S. over the last five decades.

Item Type: Monograph (Discussion Paper)
Official URL: https://cepr.org/
Additional Information: © 2017 The Authors
Divisions: Economics
Subjects: H Social Sciences > HB Economic Theory
Sets: Departments > Economics
Date Deposited: 25 May 2018 10:27
Last Modified: 06 Jul 2019 23:25
URI: http://eprints.lse.ac.uk/id/eprint/88064

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