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Bundling Time and Goods: Implications for the Dispersion in Hours Worked

Author

Listed:
  • Lei Fang
  • Anne Hannusch
  • Pedro Silos

Abstract

We document that the dispersion in hours worked is large in the cross-section. We study the quantitative effect of wage dispersion on hours dispersion using a model in which households combine their time and market goods to produce consumption activities. We estimate several models with different numbers of activities on the paired expenditures and time use data by consumption activity. The estimated model can account for 25%-87% of the dispersion in hours worked over 2003-2018 with the model incorporating more activities generating more dispersion. The substitutability between goods and time within an activity and across activities is key to the result.

Suggested Citation

  • Lei Fang & Anne Hannusch & Pedro Silos, 2022. "Bundling Time and Goods: Implications for the Dispersion in Hours Worked," CRC TR 224 Discussion Paper Series crctr224_2022_346, University of Bonn and University of Mannheim, Germany.
    • Handle: RePEc:bon:boncrc:crctr224_2022_346
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    File URL: https://www.crctr224.de/research/discussion-papers/archive/dp346
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    Cited by:

    1. Brian C. Albrecht & Tom Phelan & Nick Pretnar, 2023. "Time Use and the Efficiency of Heterogeneous Markups," Working Papers 23-28, Federal Reserve Bank of Cleveland.

    More about this item

    Keywords

    Time Allocation; Consumption Expenditures; Hours Dispersion; Elasticity of Substitution;
    All these keywords.

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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