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 long-run trends in aggregate market hours of work and shifts across economic sectors within the context of balanced aggregate growth. We show that a model of many goods and uneven TFP growth in market and home production can rationalize the observed falling or U-shaped aggregate hours and structural change across market sectors. The dynamics of market hours are driven by substitutions between home and market production and depend critically on the existence of many market sectors. Extensions show how the model can explain rising leisure and more complex hours dynamics without violating balanced aggregate growth.

Keywords: hours of work; labour supply; structural transformation; home production; marketization; balanced growth (search for similar items in EconPapers)
JEL-codes: J21 J22 O14 O41 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2006-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://eprints.lse.ac.uk/4462/ Open access version. (application/pdf)

Related works:
Journal Article: Trends in Hours and Economic Growth (2008)
Working Paper: 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 (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:4462

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