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Habit formation, work ethics and technological progress

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  • Joao Ricardo Faria
  • Miguel A. Leon-Ledesma

Abstract

Work ethics affect labour supply. This idea is modelled assuming that work is habit forming. We introduce working habits in a neoclassical growth model and compare its outcomes with a model without habit formation. In addition, we analyse the impact of different forms of technical progress. The findings are that (i) labour supply in the habit formation case is higher than in the neoclassical case; (ii) unlike in the neoclassical case, labour supply in the presence of habit formation depends on the kind of technical progress; and (iii) the kind of technical progress will hence affect the steady-state levels of consumption, capital stock and output. Copyright Blackwell Publishing Ltd and The Victoria University of Manchester, 2004.

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Bibliographic Info

Article provided by University of Manchester in its journal The Manchester School.

Volume (Year): 72 (2004)
Issue (Month): 3 (06)
Pages: 403-413
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bla:manchs:v:72:y:2004:i:3:p:403-413

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References

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  1. Idson, Todd L & Robins, Philip K, 1991. "Determinants of Voluntary Overtime Decisions," Economic Inquiry, Oxford University Press, vol. 29(1), pages 79-91, January.
  2. Christopher D. Carroll & Jody Overland & David N. Weil, 2000. "Saving and Growth with Habit Formation," American Economic Review, American Economic Association, vol. 90(3), pages 341-355, June.
  3. Xavier Sala-i-Martin, 1997. "I just ran four million regressions," Economics Working Papers 201, Department of Economics and Business, Universitat Pompeu Fabra.
  4. Clark, Andrew E., 1999. "Are wages habit-forming? evidence from micro data," Journal of Economic Behavior & Organization, Elsevier, vol. 39(2), pages 179-200, June.
  5. Kubin, Ingrid & Prinz, Aloys, 2002. "Labour supply with habit formation," Economics Letters, Elsevier, vol. 75(1), pages 75-79, March.
  6. Leonard Dudley & Ulrich Blum, 2001. "Religion and economic growth: was Weber right?," Journal of Evolutionary Economics, Springer, vol. 11(2), pages 207-230.
  7. Faria, Joao Ricardo, 2001. "Habit formation in a monetary growth model," Economics Letters, Elsevier, vol. 73(1), pages 51-55, October.
  8. Karni, E. & Zilcha, I., 1990. "Technological Progress And Income Inequality," Papers 1-90, Tel Aviv.
  9. Gary S. Becker & Kevin M. Murphy, 1986. "A Theory of Rational Addiction," University of Chicago - George G. Stigler Center for Study of Economy and State 41, Chicago - Center for Study of Economy and State.
  10. Temin, Peter, 1997. "Is it Kosher to Talk about Culture?," The Journal of Economic History, Cambridge University Press, vol. 57(02), pages 267-287, June.
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Cited by:
  1. Ali Choudhary & Paul Levine, 2006. "The 24/7 Society and Multiple Habits," School of Economics Discussion Papers 0506, School of Economics, University of Surrey.
  2. Dan Wheatley & Irene Hardill & Bruce Philp, 2008. "Managing reductions in working hours: a study of work-time and leisure preferences in UK industry," Working Papers 2008/5, Nottingham Trent University, Nottingham Business School, Economics Division.
  3. Vladimir Kühl Teles & Joaquim P. Andrade, 2005. "Crime And Punishment With Habit Formation," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 090, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  4. João Ricardo Faria & Gonçalo Monteiro, . "The Tenure Game: Building Up Academic Habits," Discussion Papers 05/32, Department of Economics, University of York.

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