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Hours Worked (Long-Run Trends)

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Abstract

For 200 years the average number of hours worked per worker declined, both in the market place and in the home. Technological progress is the engine of such transformation. Three mechanisms are stressed: (i) The rise in real wages and its corresponding wealth effect; (ii) The enhanced value of time off from work, due to the advent of time-using leisure goods; (iii) The reduced need for housework, due to the introduction of time-saving appliances. These mechanisms are incorporated into a model of household production. The notion of Edgeworth-Pareto complementarity/substitutability is key to the analysis. Numerical examples link theory and data.

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Paper provided by Economie d'Avant Garde in its series Economie d'Avant Garde Research Reports with number 10.

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Length: 14 pages
Date of creation: Jun 2005
Date of revision:
Handle: RePEc:eag:rereps:10

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Web page: http://www.jeremygreenwood.net/EAG.htm

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Keywords: Hours worked; leisure; housework; household production; Edgeworth-Pareto complementarity/substitutability; technological progress;

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References

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  1. Karen A. Kopecky, 2006. "The Trend in Retirement," 2006 Meeting Papers 187, Society for Economic Dynamics.
  2. Greenwood, Jeremy & Seshadri, Ananth, 2005. "Technological Progress and Economic Transformation," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 19, pages 1225-1273 Elsevier.
  3. Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2005. "Engines of Liberation," Review of Economic Studies, Oxford University Press, vol. 72(1), pages 109-133.
  4. Williamson Jeffrey G., 1995. "The Evolution of Global Labor Markets since 1830: Background Evidence and Hypotheses," Explorations in Economic History, Elsevier, vol. 32(2), pages 141-196, April.
  5. Edward C. Prescott, 2004. "Why Do Americans Work So Much More Than Europeans?," Levine's Bibliography 122247000000000413, UCLA Department of Economics.
  6. Mark Aguiar & Erik Hurst, 2006. "Measuring trends in leisure," Proceedings, Federal Reserve Bank of San Francisco.
  7. Casey B. Mulligan, 2002. "A Century of Labor-Leisure Distortions," NBER Working Papers 8774, National Bureau of Economic Research, Inc.
  8. Dora L. Costa, 1997. "Less of a Luxury: The Rise of Recreation since 1888," NBER Working Papers 6054, National Bureau of Economic Research, Inc.
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