Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production?

Carla Canelas (), François Gardes () and Philip Merrigan
Additional contact information
Carla Canelas: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.univ-paris1.fr
François Gardes: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.univ-paris1.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: This article uses household data to measure the substitutability between time and money for eight commodity groups and different countries. The elasticities estimated using the household's market wage and an estimated opportunity cost of time are positive, indicating substitutability, and much larger for all goods compared to food. The estimates with the wage rate are, in general, smaller than those obtained using the opportunity cost of time

Keywords: Elasticity of substitution; time use; statistical matching (search for similar items in EconPapers)
JEL-codes: D12 D13 D24 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2014-09
New Economics Papers: this item is included in nep-agr
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Downloads: (external link)
ftp://mse.univ-paris1.fr/pub/mse/CES2014/14071.pdf (application/pdf)

Related works:
Journal Article: Are time and money equally substitutable for all commodity groups in the household’s domestic production? (2019)
Working Paper: Are time and money equally substitutable for all commodity groups in the household’s domestic production? (2019)
Working Paper: Are time and money equally substitutable for all commodity groups in the household’s domestic production? (2019)
Working Paper: Are time and money equally substitutable for all commodity groups in the household’s domestic production? (2019)
Working Paper: Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production? (2014)
Working Paper: Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production? (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:14071

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