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Trends in Hours and Economic Growth

Listed author(s):
  • L. Rachel Ngai

    (London School of Economics)

  • Christopher A. Pissarides

    (London School of Economics)

We study substitutions between home and market production over long periods of time. We use the results to get predictions about long-run trends in aggregate market hours of work and about employment shifts across economic sectors, driven by uneven TFP growth in market and home production. The model can rationalize the observed falling or U-shaped pattern for aggregate market hours, the complete marketization of home production in agriculture and manufacturing, and the employment shift from agriculture and manufacturing to services. We find support for the model's predictions in long-run US data. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/j.red.2007.07.002
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 11 (2008)
Issue (Month): 2 (April)
Pages: 239-256

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Handle: RePEc:red:issued:07-15
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References listed on IDEAS
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  18. Stephen Nickell, 2004. "Employment and Taxes," CEP Discussion Papers dp0634, Centre for Economic Performance, LSE.
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  21. Falvey, Rodney E & Gemmell, Norman, 1996. "Are Services Income-Elastic? Some New Evidence," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(3), pages 257-269, September.
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  24. Reuben Gronau, 1976. "Leisure, Home Production and Work--The Theory of The Allocation of Time Revisited," NBER Working Papers 0137, National Bureau of Economic Research, Inc.
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  26. Casey B. Mulligan, 2002. "A Century of Labor-Leisure Distortions," NBER Working Papers 8774, National Bureau of Economic Research, Inc.
  27. Gronau, Reuben, 1997. "The Theory of Home Production: The Past Ten Years," Journal of Labor Economics, University of Chicago Press, vol. 15(2), pages 197-205, April.
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