Welfare Analysis of the Allocation of Time During the Great Recession

Anil Alpman () and François Gardes ()
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Anil Alpman: 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: Using a generalization of the time allocation model to estimate the opportunity cost of time, we explore the intratemporal substitutions between goods and time and the variations of individuals' full expenditures and welfares during the Great Recession. Our findings provide empirical evidence about the importance the home production over the business cycles and show that the reallocation of time absorbed approximately a third of the Great Recession's negative welfare impact

Keywords: Home Production; Time Allocation; Welfare; Great Recession (search for similar items in EconPapers)
JEL-codes: D31 J22 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2015-02, Revised 2016-03
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:15012

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