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Monetary Valuation of Non-market Productive Time Methodological Considerations

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  • Goldschmidt-Clermont, Luisella

Abstract

After defining households' productive time in non-SNA activities, the paper discusses the most frequently used wage-based methods for imputing a value to this time. It argues that because the relation between market wages and household output is, at best, unknown, such valuations are not fruitful for economic analysis purposes. The paper then proceeds to show that it is possible to establish an output-related valuation of productive time which per se is relevant for economic analysis. Combined with time-use data, it can be used as a transitional measure for valuing household production at factors cost in a satellite account. Copyright 1993 by The International Association for Research in Income and Wealth.

Suggested Citation

  • Goldschmidt-Clermont, Luisella, 1993. "Monetary Valuation of Non-market Productive Time Methodological Considerations," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 39(4), pages 419-433, December.
    • Handle: RePEc:bla:revinw:v:39:y:1993:i:4:p:419-33
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    Cited by:

    1. Merz, Joachim, 2009. "Time Use and Time Budgets – Improvements, Future Challenges and Recommendations," MPRA Paper 16304, University Library of Munich, Germany.
    2. Douglas Dalenberg & John Fitzgerald & Eric Schuck & John Wicks, 2004. "How Much Is Leisure Worth? Direct Measurement with Contingent Valuation," Review of Economics of the Household, Springer, vol. 2(4), pages 351-365, August.
    3. Błaszczak-Przybycińska Ilona & Marszałek Marta, 2019. "Satellite Account Of Household Production. Methodological Remarks And Results For Poland," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 23(1), pages 61-76, March.
    4. Timothy Smeeding & Inge O'Connor & Peter Saunders, 1994. "The Distribution of Welfare: Inequality, Earnings Capacity, and Household Production in a Comparative Perspective," LIS Working papers 122, LIS Cross-National Data Center in Luxembourg.
    5. Merz, Joachim & Kirsten, Dagmar, 1998. "Extended Income Inequality and Poverty Dynamics of Labour Market and Household Activities A Ten Years Microanalysis with the German Socio-Economic Panel," MPRA Paper 7012, University Library of Munich, Germany.
    6. Edward N. Wolff & Ajit Zacharias, 2003. "The Levy Institute Measure of Economic Well-Being," Economics Working Paper Archive wp_372, Levy Economics Institute.
    7. Marta Marszałek, 2020. "The Unobserved Economy - Invisible Production in Households. The Household Production Satellite Account and the National Time Transfer Account," Statistics in Transition New Series, Polish Statistical Association, vol. 21(3), pages 149-169, September.
    8. Marszałek Marta, 2020. "The Unobserved Economy – Invisible Production in Households. The Household Production Satellite Account and the National Time Transfer Account," Statistics in Transition New Series, Polish Statistical Association, vol. 21(3), pages 149-169, September.
    9. Kar-Fai Gee, 2015. "Development of Estimates for Household Production of Non-Market Services in OECD Countries for the Index of Economic Well-Being," CSLS Research Reports 2015-09, Centre for the Study of Living Standards.
    10. Ezequiel Uriel & Javier Ferri & Maria Luisa Molto, 2005. "Estimation of an Extended SAM with household production for Spain 1995," Economic Systems Research, Taylor & Francis Journals, vol. 17(3), pages 255-278.
    11. France Caillavet, 1998. "La production domestique des femmes réduit l'inégalité des revenus familiaux," Économie et Statistique, Programme National Persée, vol. 311(1), pages 75-89.
    12. Santos, João Vasco & Cylus, Jonathan, 2024. "The value of healthy ageing: Estimating the economic value of health using time use data," Social Science & Medicine, Elsevier, vol. 340(C).
    13. Gronau, Reuben, 1997. "The Theory of Home Production: The Past Ten Years," Journal of Labor Economics, University of Chicago Press, vol. 15(2), pages 197-205, April.
    14. Błaszczak-Przybycińska Ilona & Marszałek Marta, 2019. "Satellite Account Of Household Production. Methodological Remarks And Results For Poland," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 23(1), pages 61-76, March.
    15. Elissa Braunstein, 2001. "Shifting From the Home to the Market: Accounting for Women's Work in Taiwan, 1965-1995," Working Papers wp24, Political Economy Research Institute, University of Massachusetts at Amherst.

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