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Bundling Time and Goods: Implications for Hours Dispersion

Lei Fang (), Anne Hannusch () and Pedro Silos ()
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Anne Hannusch: Department of Economics, University of Mannheim

No 2003, DETU Working Papers from Department of Economics, Temple University

Abstract: We document the large dispersion in hours worked in the cross-section. We account for this fact using a model in which households combine market inputs and time to produce a set of non-market activities. To estimate the model, we create a novel data set that pairs expenditures and time use for each activity. The estimated model can account for a large fraction of the dispersion in hours worked. The substitutability between market inputs and time within an activity and across a sizable number of activities is key. Models missing these features can only generate one-third of the observed hours dispersion.

Keywords: Time Allocation; Consumption Expenditures; Hours Dispersion; Elasticity of Substitution (search for similar items in EconPapers)
JEL-codes: J22 E21 D11 (search for similar items in EconPapers)
Date: 2020-01
New Economics Papers: this item is included in nep-lma and nep-mac
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http://www.cla.temple.edu/RePEc/documents/DETU_20_03.pdf First version, 2020 (application/pdf)

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