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Health Status and the Allocation of Time

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  • Melinda Podor

    (Department of Economics, University of Hawaii at Manoa)

  • Timothy J. Halliday

    ()
    (Department of Economics, University of Hawaii at Manoa
    Institute for the Study of Labor (IZA))

Abstract

In this paper, we quantify the effects of health on time allocation. We estimate that improvements in health status have large and positive effects on time allocated to home and market production and large negative effects on time spent watching TV, sleeping, and consuming other types of leisure. We find that poor health status results in about 300 additional hours allocated to unproductive activities per year. Plausible estimates of the cost of this lost time exceed $10,000. We also find that, for men, better health induces a substitution of market-produced goods for home-produced goods. Particularly, each additional minute spent in home production saves $0.37.

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File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_09-7.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number 200907.

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Length: 35 pages
Date of creation: 05 Aug 2009
Date of revision:
Handle: RePEc:hai:wpaper:200907

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Keywords: Labor Supply; Time Allocation; Health;

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  1. Deaton, A.S., 1993. "Data and Econometric Tools for Development Analysis," Papers 172, Princeton, Woodrow Wilson School - Development Studies.
  2. Halliday, Timothy J., 2007. "Income Volatility and Health," IZA Discussion Papers 3234, Institute for the Study of Labor (IZA).
  3. Behzad T. Diba & Herschel I. Grossman, 1988. "Rational Inflationary Bubbles," NBER Working Papers 2004, National Bureau of Economic Research, Inc.
  4. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
  5. repec:att:wimass:9430 is not listed on IDEAS
  6. Michael Baker & Mark Stabile & Catherine Deri, 2004. "What Do Self-Reported, Objective, Measures of Health Measure?," Journal of Human Resources, University of Wisconsin Press, vol. 39(4).
  7. Stephen Wu, 2003. "The Effects of Health Events on the Economic Status of Married Couples," Journal of Human Resources, University of Wisconsin Press, vol. 38(1).
  8. James P. Smith, 1999. "Healthy Bodies and Thick Wallets: The Dual Relation between Health and Economic Status," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 145-166, Spring.
  9. John Rust & Christopher Phelan, 1994. "How Social Security and Medicare Affect Retirement Behavior in a World of Incomplete Markets," Public Economics 9406005, EconWPA, revised 06 Jul 1994.
  10. John Bound, 1991. "Self-Reported Versus Objective Measures of Health in Retirement Models," Journal of Human Resources, University of Wisconsin Press, vol. 26(1), pages 106-138.
  11. Gronau, Reuben, 1980. "Home Production-A Forgotten Industry," The Review of Economics and Statistics, MIT Press, vol. 62(3), pages 408-16, August.
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Cited by:
  1. Torben M. Andersen & Marias H. Gestsson, 2010. "Longevity, Growth and Intergenerational Equity - The Deterministic Case," Economics wp52, Department of Economics, Central bank of Iceland.

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