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Labor Hours in the U.S. and Europe - the Role of Different Preferences Towards Leisure

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  • Maoz, Yishay

Abstract

Since 1950, the quantity of working hours has been decreasing over time both in the U.S. and in the main European economies. The European economies have started this mutual decline process with longer working hours than in the U.S., but have ended it with less working hours than the U.S. This article presents a model in which this dynamic pattern for the joint dynamics of their working hours is shared by two economies that differ only in the weight that their individuals put on leisure in their utility function and are identical in every other respect.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5467.

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Date of creation: 20 Oct 2007
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Handle: RePEc:pra:mprapa:5467

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Keywords: Working hours; Economic Growth;

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  1. Edward C. Prescott, 2004. "Why do Americans work so much more than Europeans?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Jul, pages 2-13.
  2. Moshe Hazan & Binyamin Berdugo, 2005. "Child Labor, Fertility and Economic Growth," Development and Comp Systems 0507002, EconWPA.
  3. Goldin, Claudia, 2001. "The Human-Capital Century And American Leadership: Virtues Of The Past," The Journal of Economic History, Cambridge University Press, vol. 61(02), pages 263-292, June.
  4. 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, vol. 44(4), pages 538-567, October.
  5. Olivier Blanchard, 2004. "The Economic Future of Europe," NBER Working Papers 10310, National Bureau of Economic Research, Inc.
  6. Moav, Omer, 2001. "Cheap Children and the Persistence of Poverty," CEPR Discussion Papers 3059, C.E.P.R. Discussion Papers.
  7. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
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