Using Mexican data on household time use and consumption, we find significant substitution between goods and time in home production and different elasticities of substitution for different household commodities. Adding these findings to the Ramsey optimal tax problem, we show it is optimal to...

The Frisch elasticity of labor supply can be estimated by regressing hours worked on the hourly wage rate, controlling for consumption of the individual worker. However, most household panel surveys contain consumption information only at the household level. We show that proxying individual...

This paper evaluates the presence of heterogeneity, by household type, in the elasticity of substitution between food expenditures and time and in the goods intensity parameter in the household food and eating production functions. We use a synthetic dataset constructed by statistically matching...

The theory of home production suggests substitutability between market consumption and home production. The current paper estimates the intratemporal elasticity between home production and market consumption from within-person variation. Shocks in houseprices induced by the Great Recession are...

Using Mexican data on household time use and consumption, we find significant substitution between goods and time in home production and different elasticities of substitution for different household commodities. Adding these findings to the Ramsey optimal tax problem, we show it is optimal to...

This article uses household data to measure the substitutability between time and money for eight commodity groups and different countries. The elasticities estimated using the household's market wage and an estimated opportunity cost of time are positive, indicating substitutability, and much...

This paper offers a comprehensive study on transitional dynamics within R&D-based models of endogenous growth. There are two main motivations. First, the complete dynamic system for the market solution is derived in general form. Second, using this dynamic system as a unifying framework the...

Communication perspectives are presented on the challenges posed to traditional newspapers by social media and citizen journalism, with special reference to the United States. This is an important topic given the critical role investigative reporting, long the domain of newspapers, plays in...

In the last decades, innovation activity has been defined by an increasing complexity and a faster pace of the underlying technological change. Accordingly, several studies have shown that competitive systems of innovation benefit from being able to build upon a wide but integrated spectrum of...

This paper explores the links between open innovation and the emergence of a phoenix industry – the low carbon vehicles sector - in the UK’s traditional automotive heartland, focusing on the West Midlands region. It highlights three major factors in driving the development of this...