A Simple Identification Strategy for Gary Becker's Time Allocation Model

The implementation of Gary Becker's (1965) time allocation model is hampered by the fact that values of the different time uses are usually not observed. In practice, one often assumes that the value of time is uniform across time uses by using market wages. This approach implies a fundamental identification problem. We demonstrate that the identification problem can be solved if production shifters are available.

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Year of publication:	2015
Authors:	Cherchye, Laurens ; De Rock, Bram ; Vermeulen, Frederic
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	time use \| home production \| identification \| production shifter

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Series:	IZA Discussion Papers ; 9001
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	823892409 [GVK] hdl:10419/110729 [Handle] RePEc:iza:izadps:dp9001 [RePEc]
Classification:	D11 - Consumer Economics: Theory ; D12 - Consumer Economics: Empirical Analysis ; D13 - Household Production and Intrahouse Allocation
Source:	EconStor

Persistent link: https://www.econbiz.de/10010531704