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Il est temps d’analyser la loi d’Okun et le bien-être des ménages en termes de production domestique

Author

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  • François Gardes
  • Anil Alpman

Abstract

Generalizing Becker?s allocation of time model under an endogenous opportunity cost for time allows to explore the substitution between monetary and time resources during expansions or recessions. A negative time multiplier adds its effects to a positive monetary multiplier, which offers a possible micro-foundation for Okun?s law and shows that the welfare cost of recessions is diminished by the reallocation of disposable time to domestic production.

Suggested Citation

  • François Gardes & Anil Alpman, 2020. "Il est temps d’analyser la loi d’Okun et le bien-être des ménages en termes de production domestique," Revue économique, Presses de Sciences-Po, vol. 71(6), pages 963-971.
    • Handle: RePEc:cai:recosp:reco_716_0963
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    Cited by:

    1. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Documents de travail du Centre d'Economie de la Sorbonne 21025, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    2. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Post-Print halshs-03325379, HAL.
    3. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03325379, HAL.

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