Determinants of the weight for leisure in preferences
Ceyhun Elgin and
No 2013-57, Economics Discussion Papers from Kiel Institute for the World Economy (IfW)
In this paper, the authors investigate the determinants of weight for leisure in preferences. First, using a dynamic general equilibrium model, they back out the weight for leisure for an unbalanced panel of 52 countries over the period from 1950 to 2009. Then, the authors perform several panel data regressions using the backed-out values of the preference for leisure as the dependent variable. Estimation results imply that trade openness, GDP per-capita and average temperature positively affect the weight for leisure in preferences in a robust manner. The authors also find some evidence about the effect of unionization and unemployment.
Keywords: leisure; preferences; panel data (search for similar items in EconPapers)
JEL-codes: C23 C33 J20 J22 (search for similar items in EconPapers)
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Journal Article: Determinants of the weight for leisure in preferences (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201357
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