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Trends in Hours and Economic Growth

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Author Info
Rachel Ngai
Christopher Pissarides

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Abstract

We study the impact of three different types of policy on the sectoral composition of employment and on the overall level of market employment: (1) regulations that reduce the efficiency of market production, such as administrative burdens on companies, (2) income transfers across population groups financed by taxes, and (3) public provision of services, also financed by taxes. We claim that the three types are being applied with different weight in OECD countries. Anglo-Saxon countries rely mainly on income transfers, social democracies, especially of the Scandinavian kind, provide large amounts of public services, and continental European countries regulate employment more than the others and have large tax-transfer programs. We develop a dynamic model of the allocation of time and calibrate the impact of each type of regulation by matching our parameters to data from these countries. We claim that the regulation of market activity effectively reduces total factor productivity in the market, and has implications for the dynamics of the allocation of time to the market and the home. Tax-transfer programs shift time from market production to home production, and the public provision of services effectively taxes non-service production to subsidise service production.

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Publisher Info
Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 56.

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Date of creation: 03 Dec 2006
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Handle: RePEc:red:sed006:56

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Related research
Keywords: welfare state; regulation; structural transformation; hours of work; labour supply; home production; marketization;

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Find related papers by JEL classification:
J2 - Labor and Demographic Economics - - Demand and Supply of Labor
O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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  1. repec:att:wimass:192021 is not listed on IDEAS
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  16. Richard Rogerson, 2007. "Structural Transformation and the Deterioration of European Labor Market Outcomes," NBER Working Papers 12889, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  1. Michael Burda & Daniel S. Hamermesh & Philippe Weil, 2007. "Total Work, Gender and Social Norms," IZA Discussion Papers 2705, Institute for the Study of Labor (IZA). [Downloadable!]
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  2. Valerie A. Ramey, 2008. "Time Spent in Home Production in the 20th Century: New Estimates from Old Data," NBER Working Papers 13985, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Canegrati, Emanuele, 2006. "The Single-Mindedness Theory: Micro-foundation and Applications to Social Security Systems," MPRA Paper 1223, University Library of Munich, Germany, revised Jun 2007. [Downloadable!]
  4. Valerie A. Ramey & Neville Francis, 2006. "A Century of Work and Leisure," NBER Working Papers 12264, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Moshe Syrquin, 2007. "Kuznets and Pasinetti on the Study of Structural Transformation: Never the Twain Shall Meet?," ICER Working Papers 46-2007, ICER - International Centre for Economic Research. [Downloadable!]
  6. L. Rachel Ngai & Christopher A. Pissarides, 2008. "Employment Outcomes in the Welfare State," CEP Discussion Papers dp0856, Centre for Economic Performance, LSE. [Downloadable!]
  7. Gianluca Benigno & Christoph Theonissen, 2006. "Consumption and Real Exchange Rates with Incomplete Markets and Non-Traded Goods," CEP Discussion Papers dp0771, Centre for Economic Performance, LSE. [Downloadable!]
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