Rising inequality and trends in lesiure

L. Rachel Ngai and Timo Boppart

No 330, 2016 Meeting Papers from Society for Economic Dynamics

Abstract: This paper develops a growth model that explains the U.S. facts of rising aggregate leisure and increasing leisure inequality. Households derive utility from three sources: market produced goods, home produced goods and leisure. A key assumption is that leisure is a production activity requiring time and capital. Households allocate time and capital into each production activity. The dynamics are driven by activity-specific TFP growth and a spread in the distribution of household-specific market efficiencies. They combine to explain the time series and cross-sectional evolutions whilst the economy remains on its aggregate balance growth path.

Date: 2016
New Economics Papers: this item is included in nep-cse and nep-dge
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Related works:
Journal Article: Rising inequality and trends in leisure (2021)
Working Paper: Rising inequality and trends in leisure (2021)
Working Paper: Rising inequality and trends in leisure (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed016:330

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