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Health Status and the Allocation of Time

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  • Halliday, Timothy J.

    ()
    (University of Hawaii at Manoa)

  • Podor, Melinda

    ()
    (University of Hawaii at Manoa)

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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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4368.

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Length: 36 pages
Date of creation: Aug 2009
Date of revision:
Handle: RePEc:iza:izadps:dp4368

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Keywords: labor supply; time allocation; health;

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  1. Rust, J., 1994. "How Social Security and Medicare Affect Retirement Behavior in a World of Incomplete Markets," Working papers, Wisconsin Madison - Social Systems 9430, Wisconsin Madison - Social Systems.
  2. Halliday, Timothy J., 2007. "Income Volatility and Health," IZA Discussion Papers, Institute for the Study of Labor (IZA) 3234, Institute for the Study of Labor (IZA).
  3. John Bound, 1991. "Self-Reported Versus Objective Measures of Health in Retirement Models," Journal of Human Resources, University of Wisconsin Press, University of Wisconsin Press, vol. 26(1), pages 106-138.
  4. Deaton, Angus, 1995. "Data and econometric tools for development analysis," Handbook of Development Economics, Elsevier, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 3, chapter 33, pages 1785-1882 Elsevier.
  5. Michael Baker & Mark Stabile & Catherine Deri, 2004. "What Do Self-Reported, Objective, Measures of Health Measure?," Journal of Human Resources, University of Wisconsin Press, University of Wisconsin Press, vol. 39(4).
  6. Stephen Wu, 2003. "The Effects of Health Events on the Economic Status of Married Couples," Journal of Human Resources, University of Wisconsin Press, University of Wisconsin Press, vol. 38(1).
  7. Gronau, Reuben, 1980. "Home Production-A Forgotten Industry," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 62(3), pages 408-16, August.
  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, American Economic Association, vol. 13(2), pages 145-166, Spring.
  9. Diba, Behzad T. & Grossman, Herschel I., 1988. "Rational inflationary bubbles," Journal of Monetary Economics, Elsevier, Elsevier, vol. 21(1), pages 35-46, January.
  10. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
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Cited by:
  1. Torben M. Andersen & Marias H. Gestsson, 2010. "Longevity, Growth and Intergenerational Equity - The Deterministic Case," Economics, Department of Economics, Central bank of Iceland wp52, Department of Economics, Central bank of Iceland.

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