The Macroeconomics of Time Allocation
M. Aguiar and
Erik Hurst ()
Chapter Chapter 4 in Handbook of Macroeconomics, 2016, vol. 2, pp 203-253 from Elsevier
In this chapter we explore the macroeconomics of time allocation. We begin with an overview of the trends in market hours in the United States, both in the aggregate and for key subsamples. After introducing a Beckerian theoretical framework, the chapter then discusses key empirical patterns of time allocation, both in the time series (including business cycle properties) and over the life cycle. We focus on several core nonmarket activities, including home production, child care, and leisure. The chapter concludes with a discussion of why these patterns are important to macroeconomics and spells out directions for future research.
Keywords: Time allocation; Home production; Labor supply; Employment; Leisure; Nonseparable preferences; J22; E24 (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:macchp:v2-203
Access Statistics for this chapter
More chapters in Handbook of Macroeconomics from Elsevier
Series data maintained by Dana Niculescu ().