Hours Worked (Long-Run Trends)
For 200 years the average number of hours worked per worker declined, both in the market place and in the home. Technological progress is the engine of such transformation. Three mechanisms are stressed: (i) The rise in real wages and its corresponding wealth effect; (ii) The enhanced value of time off from work, due to the advent of time-using leisure goods; (iii) The reduced need for housework, due to the introduction of time-saving appliances. These mechanisms are incorporated into a model of household production. The notion of Edgeworth-Pareto complementarity/substitutability is key to the analysis. Numerical examples link theory and data.
References listed on IDEAS
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- Mark Aguiar & Erik Hurst, 2006. "Measuring trends in leisure," Proceedings, Federal Reserve Bank of San Francisco.
- Casey B. Mulligan, 2002. "A Century of Labor-Leisure Distortions," NBER Working Papers 8774, National Bureau of Economic Research, Inc.
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NBER Working Papers
10316, National Bureau of Economic Research, Inc.
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NBER Working Papers
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- Jeremy Greenwood, 2003. "Technological Progress and Economic Transformation," Annual Meeting Plenary 2003-2, Society for Economic Dynamics.
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- Dora L. Costa, 1997. "Less of a Luxury: The Rise of Recreation since 1888," NBER Working Papers 6054, National Bureau of Economic Research, Inc.
- Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2002.
"Engines of Liberation,"
Economie d'Avant Garde Research Reports
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- Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2003. "Engines of Liberation," RCER Working Papers 503, University of Rochester - Center for Economic Research (RCER).
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"The Evolution of Global Labor Markets Since 1830 Background Evidence and Hypotheses,"
NBER Historical Working Papers
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"The Trend in Retirement,"
2006 Meeting Papers
187, Society for Economic Dynamics.
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