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Trends in Hours and Economic Growth Author info | Abstract | Publisher info | Download info | Related research | Statistics L. Rachel Ngai (London School of Economics)
Christopher A. Pissarides (London School of Economics)
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We study substitutions between home and market production over long periods of time. We use the results to get predictions about long-run trends in aggregate market hours of work and about employment shifts across economic sectors, driven by uneven TFP growth in market and home production. The model can rationalize the observed falling or U-shaped pattern for aggregate market hours, the complete marketization of home production in agriculture and manufacturing, and the employment shift from agriculture and manufacturing to services. We find support for the model's predictions in long-run US data. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics .
Volume (Year): 11 (2008)
Issue (Month): 2 (April)
Pages: 239-256
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Keywords: Hours of work Labor supply Structural transformation Home production Marketization Balanced growth Other versions of this item:
Paper Rachel Ngai & Christopher Pissarides, 2006.
"Trends in Hours and Economic Growth ,"
2006 Meeting Papers
56, Society for Economic Dynamics.
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[Downloadable!] Find related papers by JEL classification: J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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