The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data

François Gardes

Annals of Economics and Statistics, 2019, issue 135, 89-120

Abstract: This article uses an allocation of time framework following Becker, to propose a new method to estimate the opportunity cost of time and price elasticities at a micro level. As expected, the estimate of the value of time performed by matching the INSEE Family Budget and Time Use surveys is close to the minimum wage rate and positively correlated with household wages, incomes and relative incomes, as well as with the presence of children. Using this estimate, full prices are derived, allowing the computation of cross-section data of price elasticities, elasticities with respect to time use, as well as to the opportunity cost of time.

JEL-codes: C33 D1 D13 J22 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2019:i:135:p:89-120

DOI: 10.15609/annaeconstat2009.135.0089

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