Location of Repository

Trends in hours and economic growth

By L. Rachel Ngai and Christopher Pissarides

Abstract

We study long-run trends in aggregate market hours of work and shifts across economic sectors within the context of balanced aggregate growth. We show that a model of many goods and uneven TFP growth in market and home production can rationalize the observed falling or U-shaped aggregate hours and structural change across market sectors. The dynamics of market hours are driven by substitutions between home and market production and depend critically on the existence of many market sectors. Extensions show how the model can explain rising leisure and more complex hours dynamics without violating balanced aggregate growth

Topics: HC Economic History and Conditions, HB Economic Theory
Publisher: Centre for Economic Policy Research, London School of Economics
Year: 2006
OAI identifier: oai:eprints.lse.ac.uk:3548
Provided by: LSE Research Online
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://www.cepr.org (external link)
  • http://eprints.lse.ac.uk/3548/ (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.