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substantial leisure complementarity, and specifically cut the non-usual component of their workweek, leaving usual hours unchanged …
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Using a time-separable utility function where leisure is introduced through the disutility of working time and is … harmful for growth. A tighter environmental tax reduces the incentives to educate by increasing leisure time and lowers the … presence of leisure, the environmental tax does not affect human capital accumulation if the source of pollution is output …
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The opportunity Value of Travel Time (VTT) is one of the most important parts of the total cost of recreation day-trips and arguably the most difficult to estimate. Most studies build upon the theoretical framework proposed by Becker's (1965) by using a combination of revealed and stated...
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Policy-makers have increasingly turned to ‘in-work transfers’ to boost incomes among poorer workers and strengthen work incentives. One attraction of these is that labour supply elasticities are typically greatest at the extensive margin. Because in-work transfers are normally subject to...
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It is widely believed that vertical integration in an environment without foreclosure, or more generally without any mechanism that restricts competition among firms, raises the welfare of consumers. In this paper we show that this can be overturned in a standard setting. We consider a vertical...
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