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Distribution of Economic Resources: Implications of Including the Household Production

Author

Listed:
  • Jens Bonke

    (Institute of Economics, University of Copenhagen)

Abstract

The value of household production is estimated to 40-50 percent of GNP in most western countries, and because the distribution of this income-in-kind is different from ordinary income distribution, the concept of economic well-being may include household production. The monetary value of household production is evaluated by a market alternative principle and an opportunity-cost principle. In the last case a reservation wage is estimated, and integrated in a modified opportunity principle, which means that household work of non-working women is evaluated by the reservation wage, and household work of working women and men by their wage-rate. The conclusions are among others, that the inclusion of household production reduces the inequality, and that women's contributions--money income and household production--functions as income equalizers.

Suggested Citation

  • Jens Bonke, 1991. "Distribution of Economic Resources: Implications of Including the Household Production," Discussion Papers 91-10, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:9110
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    Keywords

    national income accounts; households; income; Denmark; U.S.; Netherlands;
    All these keywords.

    JEL classification:

    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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