Trends in hours and economic growth

L. Rachel Ngai and Christopher Pissarides

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We study substitutions between home and market production over long periods of time. We use the results to get predictions about long-run trends in aggregate market hours of work and about employment shifts across economic sectors, driven by uneven TFP growth in market and home production. The model can rationalize the observed falling or U-shaped pattern for aggregate market hours, the complete marketization of home production in agriculture and manufacturing, and the employment shift from agriculture and manufacturing to services. We find support for the model’s predictions in long-run US data.

JEL-codes: J21 J22 O14 O41 (search for similar items in EconPapers)
Date: 2008-04
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Citations: View citations in EconPapers (130)

Published in Review of Economic Dynamics, April, 2008, 11(2), pp. 239-256. ISSN: 1094-2025

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http://eprints.lse.ac.uk/3828/ Open access version. (application/pdf)

Related works:
Journal Article: 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)
Working Paper: Trends in Hours and Economic Growth (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:3828

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