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Labor Market Fluctuations in the Small and in the Large
Rogerson, Richard - 2008
Shimer's calibrated version of the Mortensen-Pissarides model generates unemployment fluctuates much smaller than the … has been challenged by Costain and Reiter, who say it generates unrealistically big differences in unemployment from the …
Persistent link: https://www.econbiz.de/10012772372
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Unemployment, Market Work and Household Production
Burda, Michael C. - 2010
additional leisure and personal maintenance, not in increased household production. There is no relation between unemployment … lower amount of market work in areas of long-term high unemployment is offset by additional household production. In … contrast, in those areas where unemployment has risen cyclically reduced market work is made up almost entirely by additional …
Persistent link: https://www.econbiz.de/10012757952
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The Tax Unit and Household Production
Piggott, John - 2010
The conventional wisdom is that taxing individuals rather than households is superior from an efficiency point of view under progressive income taxation. This is because it leads to secondary workers, whose labour supply elasticity is high, being taxed at a lower marginal rate than primary...
Persistent link: https://www.econbiz.de/10013138141
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Allocating Time : Individuals' Technologies, Household Technology, Perfect Substitutes, and Specialization
Pollak, Robert A. - 2011
In an efficient household if the spouses' time inputs are perfect substitutes, then spouses will "specialize" regardless of their preferences and the governance structure. That is, both spouses will not allocate time to both household production and the market sector. The perfect substitutes...
Persistent link: https://www.econbiz.de/10013119341
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Home Production, Labor Wedges, and International Real Business Cycles
Karabarbounis, Loukas - 2012
This paper explores implications of non-separable preferences with home production for international business cycles. Home production induces substitution effects that break the link between market consumption and its marginal utility and help explain several stylized facts of the open economy....
Persistent link: https://www.econbiz.de/10013100983
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Homework in Monetary Economics : Inflation, Home Production, and the Production of Homes
Aruoba, S. Borağan - 2012
We study models incorporating money, household production, and investment in housing. Inflation, as a tax on market activity, encourages substitution into household production, and thus investment in household capital. Hence, inflation increases the (appropriately deflated) value of the housing...
Persistent link: https://www.econbiz.de/10013102709
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A Strategy for Evaluating the Opportunity Cost of Time Estimates from New Choice Margins
McConnell, K.E. - 2017
Information frictions imply it is reasonable to expect the same commodity, in a given location, to sell for different prices at the same time. Aguiar and Hurst (AH) [2007] demonstrate how the search behavior implied by these price differences can be used estimate the opportunity cost of time....
Persistent link: https://www.econbiz.de/10012957384
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Market Work, Home Work and Taxes : A Cross Country Analysis
Rogerson, Richard - 2010
This paper uses a simple model of labor supply extended to allow for home production to understand the extent to which differences in taxes can account for differences in time allocations between the US and Europe. Once home production is included, the elasticity of substitution between...
Persistent link: https://www.econbiz.de/10012758294
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Measuring the Values for Time
Palmquist, Raymond B. - 2010
Most economic models for time allocation ignore constraints on what people can actually do with their time. Economists recently have emphasized the importance of considering prior consumption commitments that constrain behavior. This research develops a new model for time valuation that uses...
Persistent link: https://www.econbiz.de/10012759700
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The Time and Timing Costs of Market Work
Hamermesh, Daniel S. - 2010
With the American Time Use Survey of 2003 and 2004 we first examine whether additional market work has neutral impacts on the mix of non-market activities. The estimates indicate that fixed time costs of market work alter patterns of non-market activities, reducing leisure time and mostly...
Persistent link: https://www.econbiz.de/10012760079