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Time allocation and home production technology

Lei Fang () and Guozhong Zhu ()

Journal of Economic Dynamics and Control, 2017, vol. 78, issue C, 88-101

Abstract: This paper studies the effect of the relative productivity between the market sector and the home sector on time allocation. A novelty of the paper is to jointly estimate home productivity and the elasticity of substitution between market goods and home hours, which is accomplished through structural estimation based on income-decile level data. With a high elasticity of substitution and a slower growth rate of productivity in the home sector relative to the market sector, the model can produce key data patterns of time allocation in both the cross sections and time series. Quantitatively, relative productivity can account for 32% of the variation in market hours and 18% of the variation in home hours.

Keywords: Time allocation; Home production productivity; Elasticity of substitution (search for similar items in EconPapers)
JEL-codes: E24 E27 J22 J24 (search for similar items in EconPapers)
Date: 2017
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Journal of Economic Dynamics and Control is currently edited by J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok

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