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In the "perpetual youth" overlapping-generations model of Blanchard and Yaari, if leisure is a "normal" good then some agents will have negative labour supply. We suggest a solution to this problem by using a modified version of Greenwood, Hercowitz and Huffman's utility function. The...
Persistent link: https://www.econbiz.de/10002420833
Recent studies investigate policies motivating consumers to make an active choice as a way to protect unsophisticated consumers. We analyse the optimal timing of such choice-enhancing policies when a firm can strategically react to them. In our model, a firm provides an automatic enrollment or...
Persistent link: https://www.econbiz.de/10012985793
In the "perpetual youth" overlapping-generations model of Blanchard and Yaari, if leisure is a "normal" good then some agents will have negative labour supply. We suggest a solution to this problem by using a modified version of Greenwood, Hercowitz and Huffman's utility function. The...
Persistent link: https://www.econbiz.de/10013319347
Persistent link: https://www.econbiz.de/10013434682
higher uncertainty increases housework and reduces market hours worked, with modest effects on leisure. Finally, we propose a … model of housework with time-varying uncertainty that quantitatively accounts for these results. We use the model to … contractionary effects of uncertainty. Policies that reallocate time use toward housework (e.g., lockdown restrictions) amplify the …
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