Net Buyers and Sellers of Labor: Linkage Between Monetary and Time Inequality

Dimitry Rtischev

Gakushuin Economic Papers, 2018, vol. 54, issue 4, 223-235

Abstract: Consumption of products and services involves paying for other people’s labor. Since everyone is endowed with 24 hours per day but works and consumes differently, there must exist net sellers and net buyers of time. We theoretically explore the equilibrium pattern of net selling and buying of time in an economy of agents with unequal wealth endowments. After demonstrating how trade in time reduces inequality in wealth but creates inequality in time, we discuss implications and extensions.

Keywords: labor supply; labor demand; leisure; inequality (search for similar items in EconPapers)
JEL-codes: D31 J22 J23 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:abc:gakuep:54-4-2

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