Trends in Hours and Economic Growth

Christopher Pissarides and L. Rachel Ngai

No 5440, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We study long-run trends in aggregate market hours of work and shifts across economic sectors within the context of balanced aggregate growth. We show that a model of many goods and uneven TFP growth in market and home production can rationalize the observed falling or U-shaped aggregate hours and structural change across market sectors. The dynamics of market hours are driven by substitutions between home and market production and depend critically on the existence of many market sectors. Extensions show how the model can explain rising leisure and more complex hours dynamics without violating balanced aggregate growth.

Keywords: Hours of work; Labour supply; Structural transformation; Home production; Marketization; Balanced growth (search for similar items in EconPapers)
JEL-codes: J21 J22 O14 O41 (search for similar items in EconPapers)
Date: 2005-12
New Economics Papers: this item is included in nep-bec
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
https://cepr.org/publications/DP5440 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Trends in Hours and Economic Growth (2008)
Working Paper: Trends in hours and economic growth (2008)
Working Paper: Trends in Hours and Economic Growth (2007)
Working Paper: Trends in Hours and Economic Growth (2006)
Working Paper: Trends in hours and economic growth (2006)
Working Paper: Trends in Hours and Economic Growth (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:5440

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP5440

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().