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Trends in Hours and Economic Growth

  • Ngai, L. Rachel

    ()

    (London School of Economics)

  • Pissarides, Christopher A.

    ()

    (London School of Economics)

We study long-run trends in market hours of work and employment shifts across economic sectors driven by uneven TFP growth in market and home production. We focus on the substitutions between market and home production and on the structural transformation between agriculture, manufacturing and services. The model can rationalize the observed falling or U-shaped pattern for aggregate hours, the complete marketization of agriculture and manufacturing, and the shift from agriculture to services without violating balanced aggregate growth. We find support for the model’s predictions in long-run US data.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2540.

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Length: 34 pages
Date of creation: Jan 2007
Date of revision:
Publication status: published in: Review of Economic Dynamics, 2008, 11 (2), 239-256
Handle: RePEc:iza:izadps:dp2540
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  1. Hans-Joachim Voth, 1997. "Time and Work in Eighteenth-Century London," Oxford University Economic and Social History Series _021, Economics Group, Nuffield College, University of Oxford.
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  8. Ellen McGrattan & Richard Rogerson & Randall Wright, 1995. "An equilibrium model of the business cycle with household production and fiscal policy," Staff Report 191, Federal Reserve Bank of Minneapolis.
  9. King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
  10. Richard B. Freeman & Ronald Schettkat, 2005. "Marketization of household production and the EU–US gap in work," Economic Policy, CEPR;CES;MSH, vol. 20(41), pages 6-50, 01.
  11. Casey B. Mulligan, 2002. "A Century of Labor-Leisure Distortions," NBER Working Papers 8774, National Bureau of Economic Research, Inc.
  12. Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2002. "Engines of Liberation," Economie d'Avant Garde Research Reports 2, Economie d'Avant Garde.
  13. 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 257-69, September.
  14. Blundell, Richard & Pashardes, Panos & Weber, Guglielmo, 1993. "What Do We Learn About Consumer Demand Patterns from Micro Data?," American Economic Review, American Economic Association, vol. 83(3), pages 570-97, June.
  15. Peter Rupert & Richard Rogerson & Randall Wright, 1994. "Estimating substitution elasticities in household production models," Staff Report 186, Federal Reserve Bank of Minneapolis.
  16. Richard Rogerson, 2006. "Structural Transformation and the Labor Market," 2006 Meeting Papers 256, Society for Economic Dynamics.
  17. Kongsamut, Piyabha & Rebelo, Sérgio & Xie, Danyang, 1997. "Beyond Balanced Growth," CEPR Discussion Papers 1693, C.E.P.R. Discussion Papers.
  18. Stephen Nickell, 2004. "Employment and taxes," LSE Research Online Documents on Economics 19955, London School of Economics and Political Science, LSE Library.
  19. Kevin J. Stiroh & Dale W. Jorgenson, 2000. "U.S. Economic Growth at the Industry Level," American Economic Review, American Economic Association, vol. 90(2), pages 161-167, May.
  20. Richard Rogerson, 2008. "Structural Transformation and the Deterioration of European Labor Market Outcomes," Journal of Political Economy, University of Chicago Press, vol. 116(2), pages 235-259, 04.
  21. Valerie Ramey & Neville Francis, 2006. "A Century of Work and Leisure," Working Papers id:546, eSocialSciences.
  22. Jeremy Greenwood & Guillaume Vandenbroucke, 2005. "Hours Worked: Long-Run Trends," NBER Working Papers 11629, National Bureau of Economic Research, Inc.
  23. Echevarria, Cristina, 1997. "Changes in Sectoral Composition Associated with Economic Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(2), pages 431-52, May.
  24. Ngai, Liwa Rachel & Pissarides, Christopher, 2004. "Structural Change in a Multi-Sector Model of Growth," CEPR Discussion Papers 4763, C.E.P.R. Discussion Papers.
  25. Chang, Yongsung & Schorfheide, Frank, 2003. "Labor-supply shifts and economic fluctuations," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1751-1768, November.
  26. Stephen L. Parente & Richard Rogerson & Randall Wright, 2000. "Homework in Development Economics: Household Production and the Wealth of Nations," Journal of Political Economy, University of Chicago Press, vol. 108(4), pages 680-687, August.
  27. Mokyr, Joel, 2000. "Why “More Work for Mother?” Knowledge and Household Behavior, 1870–1945," The Journal of Economic History, Cambridge University Press, vol. 60(01), pages 1-41, March.
  28. 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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