Boppart, Timo and Ngai, L. Rachel (2017) Rising inequality and trends in leisure. Discussion Paper Series (DP12325). Centre for Economic Policy Research (Great Britain), London, UK.
Full text not available from this repository.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 |
| JEL classification: | O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J22 - Time Allocation and Labor Supply E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E24 - Macroeconomics: Employment; Unemployment; Wages; Intergenerational Income Distribution (includes wage indexation) |
| Date Deposited: | 25 May 2018 10:27 |
| Last Modified: | 15 Sep 2023 23:43 |
| URI: | http://eprints.lse.ac.uk/id/eprint/88064 |
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