Showing 1 - 10 of 149
I show that recreation has become much more egalitarian over the last hundred years by estimating recreational expenditure elasticities in 1888-1890, 1917-1919, 1935-1936, 1972-1973, and 1991. I find that expenditure elasticities have fallen from around two at the beginning of the century to...
Persistent link: https://www.econbiz.de/10012472760
I use consumer expenditure surveys from 1888-1890, 1917-1919, 1935-1936, 1972-1973, and 1991 to determine whether trends in real income per capita are consistent with trends in recreational budget shares and to establish trends in inequality in recreational expenditures. I find that changes in...
Persistent link: https://www.econbiz.de/10012471646
The object of this paper is to examine the importance of capital market assumptions. A special continuous-time model is developed in sections II-IV which is applicable to the perfect capital market case. It can also be used when there is no capital market at all (section IV). For 'reasonable'...
Persistent link: https://www.econbiz.de/10012478922
From the theoretical point of view, the justification for aggregating leisure and work at home into one entity, "non … socioeconomic variables than is leisure, and this paper shows that the aggregation is also suspect from the analytical point of view …
Persistent link: https://www.econbiz.de/10012478992
consider are income effects in preferences, in which leisure becomes more valuable when income rises, and distortionary tax …
Persistent link: https://www.econbiz.de/10012480498
This paper examines inequality in both leisure and consumption over the past four decades using time use surveys … most of the long run variation in leisure. We then use these characteristics to predict the distribution of leisure in the … that it gives us measures of consumption and leisure at the family level within a single data source. We find that leisure …
Persistent link: https://www.econbiz.de/10012480851
per worker have also been on a steady decline. As recreation goods make leisure time more enjoyable, we investigate if the … for the changing price of leisure faced by these groups over time. We then construct a macroeconomic model with general … that a large part of the decline in hours worked can be explained by the declining price of leisure. In contrast, we find …
Persistent link: https://www.econbiz.de/10012481292
implications for how aggregate labor supply responds to changes in taxes. In the first model, curvature in the utility from leisure … extent of curvature in the utility from leisure function …
Persistent link: https://www.econbiz.de/10012462022
Hundreds of papers have investigated how incentives and policies affect hours worked in the market. This paper examines how income taxes affect time allocation in the other two-thirds of the day. Using the Panel Study of Income Dynamics from 1975 to 2004, we analyze the response of single...
Persistent link: https://www.econbiz.de/10012463066
(relatively) tax complements to leisure and subsidize substitutes because doing so helps to offset the distorting effect of …, Atkinson and Stiglitz (1976) claim to have demonstrated the opposite, that goods complementary with leisure should "face lower … optimality of relatively taxing leisure complements is indeed correct, and conflicting results are explained …
Persistent link: https://www.econbiz.de/10012464250