Ngai, L. Rachel and Pissarides, Christopher 
ORCID: 0000-0002-0695-058X
(2006)
Trends in hours and economic growth.
.
Centre for Economic Policy Research, London School of Economics, London, UK.
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Abstract
We study long-run trends in aggregate market hours of work and shifts across economic sectors within the context of balanced aggregate growth. We show that a model of many goods and uneven TFP growth in market and home production can rationalize the observed falling or U-shaped aggregate hours and structural change across market sectors. The dynamics of market hours are driven by substitutions between home and market production and depend critically on the existence of many market sectors. Extensions show how the model can explain rising leisure and more complex hours dynamics without violating balanced aggregate growth.
| Item Type: |
Monograph
(Discussion Paper)
|
| Official URL: |
http://www.cepr.org |
| Additional Information: |
© 2006 The Authors |
| Divisions: |
Centre for Economic Performance
Economics |
| Subjects: |
H Social Sciences > HC Economic History and Conditions
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: |
28 Feb 2008 |
| Last Modified: |
13 Sep 2024 20:00 |
| URI: |
http://eprints.lse.ac.uk/id/eprint/3548 |
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