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Aggregate Impacts of a Gift of Time

  • Lee, Jungmin

    ()

    (Sogang University)

  • Kawaguchi, Daiji

    ()

    (RIETI, Hitotsubashi University)

  • Hamermesh, Daniel S.

    ()

    (Royal Holloway; University of Texas at Austin)

How would people spend additional time if confronted by permanent declines in market work? We examine the impacts of cuts in legislated standard hours that raised employers' overtime costs in Japan around 1990 and Korea in the early 2000s. Using time-diaries from before and after these shocks, we show that these shocks were effective – per-capita hours of market work declined discretely. The economy-wide drops in market work were reallocated solely to leisure and personal maintenance. In the absence of changing household technology a permanent time gift leads to no increase in time spent in household production by the average individual.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6199.

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Length: 35 pages
Date of creation: Dec 2011
Date of revision:
Publication status: published in: American Economic Review, 2012, 102(3), 612-616
Handle: RePEc:iza:izadps:dp6199
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  1. Mark Aguiar & Erik Hurst, 2006. "Measuring trends in leisure: the allocation of time over five decades," Working Papers 06-2, Federal Reserve Bank of Boston.
  2. Jeremy Greenwood & Ananth Seshadri & Mehmet Yorukoglu, 2002. "Engines of Liberation," Economie d'Avant Garde Research Reports 2, Economie d'Avant Garde.
  3. Gimenez-Nadal, J. Ignacio & Sevilla, Almudena, 2012. "Trends in Time Allocation: A Cross-Country Analysis," IZA Discussion Papers 6709, Institute for the Study of Labor (IZA).
  4. Lee, Jungmin & Kawaguchi, Daiji & Hamermesh, Daniel S., 2011. "Aggregate Impacts of a Gift of Time," IZA Discussion Papers 6199, Institute for the Study of Labor (IZA).
  5. Goux, Dominique & Maurin, Eric & Petrongolo, Barbara, 2011. "Worktime regulations and spousal labor supply," CEPR Discussion Papers 8666, C.E.P.R. Discussion Papers.
  6. Kuroda, Sachiko, 2010. "Do Japanese Work Shorter Hours than before? Measuring trends in market work and leisure using 1976-2006 Japanese time-use survey," Journal of the Japanese and International Economies, Elsevier, vol. 24(4), pages 481-502, December.
  7. Mark A. Aguiar & Erik Hurst & Loukas Karabarbounis, 2011. "Time Use During Recessions," NBER Working Papers 17259, National Bureau of Economic Research, Inc.
  8. Hamermesh, Daniel S., 2000. "Timing, Togetherness and Time Windfalls," IZA Discussion Papers 173, Institute for the Study of Labor (IZA).
  9. repec:bla:restud:v:72:y:2005:i:1:p:109-133 is not listed on IDEAS
  10. Huberman, Michael & Minns, Chris, 2007. "The times they are not changin': Days and hours of work in Old and New Worlds, 1870-2000," Explorations in Economic History, Elsevier, vol. 44(4), pages 538-567, October.
  11. Daniel S. Hamermesh & Harley Frazis & Jay Stewart, 2005. "Data Watch: The American Time Use Survey," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 221-232, Winter.
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