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Aggregate Impacts of a Gift of Time

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  • Lee, Jungmin

    ()
    (Sogang University)

  • Kawaguchi, Daiji

    ()
    (Hitotsubashi University)

  • Hamermesh, Daniel S.

    ()
    (University of Texas at Austin, Royal Holloway)

Abstract

How would people spend additional time if confronted by permanent declines in market work? We examine the impacts of cuts in legislated standard hours that raised employers' overtime costs in Japan around 1990 and Korea in the early 2000s. Using time-diaries from before and after these shocks, we show that these shocks were effective – per-capita hours of market work declined discretely. The economy-wide drops in market work were reallocated solely to leisure and personal maintenance. In the absence of changing household technology a permanent time gift leads to no increase in time spent in household production by the average individual.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6199.

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Length: 35 pages
Date of creation: Dec 2011
Date of revision:
Publication status: published in: American Economic Review, 2012, 102(3), 612-616
Handle: RePEc:iza:izadps:dp6199

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Keywords: household production; macroeconomic effects; demand shock; time use;

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References

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  1. Dominique Goux & Eric Maurin & Barbara Petrongolo, 2011. "Worktime Regulations and Spousal Labor Supply," CEP Discussion Papers, Centre for Economic Performance, LSE dp1096, Centre for Economic Performance, LSE.
  2. Greenwood,J. & Seshadri,A. & Yorukoglu,M., 2002. "Engines of liberation," Working papers, Wisconsin Madison - Social Systems 1, Wisconsin Madison - Social Systems.
  3. Gimenez-Nadal, Jose Ignacio & Sevilla, Almudena, 2012. "Trends in time allocation: A cross-country analysis," European Economic Review, Elsevier, Elsevier, vol. 56(6), pages 1338-1359.
  4. Mark Aguiar & Erik Hurst, 2006. "Measuring Trends in Leisure: The Allocation of Time Over Five Decades," NBER Working Papers, National Bureau of Economic Research, Inc 12082, National Bureau of Economic Research, Inc.
  5. Hamermesh, Daniel S., 2000. "Timing, Togetherness and Time Windfalls," IZA Discussion Papers, Institute for the Study of Labor (IZA) 173, Institute for the Study of Labor (IZA).
  6. Kuroda, Sachiko, 2009. "Do Japanese Work Shorter Hours than before?: Measuring Trends in Market Work and Leisure Using 1976-2006 Japanese Time-Use Survey," PIE/CIS Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University 419, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  7. Huberman, Michael & Minns, Chris, 2007. "The times they are not changin': Days and hours of work in Old and New Worlds, 1870-2000," Explorations in Economic History, Elsevier, Elsevier, vol. 44(4), pages 538-567, October.
  8. Jungmin Lee & Daiji Kawaguchi & Daniel S. Hamermesh, 2012. "Aggregate Impacts of a Gift of Time," American Economic Review, American Economic Association, American Economic Association, vol. 102(3), pages 612-16, May.
  9. Mark A. Aguiar & Erik Hurst & Loukas Karabarbounis, 2011. "Time Use During Recessions," NBER Working Papers, National Bureau of Economic Research, Inc 17259, National Bureau of Economic Research, Inc.
  10. repec:bla:restud:v:72:y:2005:i:1:p:109-133 is not listed on IDEAS
  11. Daniel S. Hamermesh & Harley Frazis & Jay Stewart, 2005. "Data Watch: The American Time Use Survey," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 19(1), pages 221-232, Winter.
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Cited by:
  1. Jungmin Lee & Daiji Kawaguchi & Daniel S. Hamermesh, 2011. "Aggregate Impacts of a Gift of Time," NBER Working Papers, National Bureau of Economic Research, Inc 17649, National Bureau of Economic Research, Inc.
  2. Hamermesh, Daniel S. & Kawaguchi, Daiji & Lee, Jungmin, 2014. "Does Labor Legislation Benefit Workers? Well-Being after an Hours Reduction," IZA Discussion Papers, Institute for the Study of Labor (IZA) 8077, Institute for the Study of Labor (IZA).
  3. Jeremy Lise & Nao Sudo & Michio Suzuki & Ken Yamada & Tomoaki Yamada, 2013. "Wage, Income and Consumption Inequality in Japan, 1981-2008: from Boom to Lost Decades," Working Papers, Human Capital and Economic Opportunity Working Group 2013-011, Human Capital and Economic Opportunity Working Group.
  4. Daiji Kawaguchi, 2013. "Fewer School Days, More Inequality," Global COE Hi-Stat Discussion Paper Series, Institute of Economic Research, Hitotsubashi University gd12-271, Institute of Economic Research, Hitotsubashi University.
  5. Kawaguchi, Daiji & Lee, Jungmin & Hamermesh, Daniel S., 2013. "A gift of time," Labour Economics, Elsevier, Elsevier, vol. 24(C), pages 205-216.

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