Working Time over the 20th Century
AbstractFrom 1870 to 2000, the workweek length of employed persons decreased by 41 per cent in industrialized countries. The employment rate, employment per working age person, displays large movements but no clear secular pattern. This motivated the question: What accounts for the large decrease in the workweek length and developments in the employment rate over the past 130 years? The answer is given in a dynamic general-equilibrium model with supervisory and production workers. Over time, both types of workers become more productive. In a calibrated version of the model, productivity gains of supervisors account for a large fraction of the decline in the workweek length in Japan, the United Kingdom, and the United States. The model, augmented to include taxes, government spending, and technological progress, captures the movement in the employment rates of the three countries.
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Bibliographic InfoPaper provided by Bank of Canada in its series Working Papers with number 06-18.
Length: 70 pages
Date of creation: 2006
Date of revision:
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Economic models; Labour markets; Productivity;
Find related papers by JEL classification:
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-06-24 (All new papers)
- NEP-CBA-2006-06-24 (Central Banking)
- NEP-DGE-2006-06-24 (Dynamic General Equilibrium)
- NEP-MAC-2006-06-24 (Macroeconomics)
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