In Search of Leisure Time: An Endogenous Growth Model with Leisure Services

37 Pages Posted: 29 May 2020

See all articles by Massimiliano Castellani

Massimiliano Castellani

University of Bologna - Department of Economics

Roberto Dieci

Department of Mathematics, University of Bologna

Date Written: July 2019

Abstract

Starting from the Ladrón‐de Guevara et al.’s framework, we develop a model with an additional sector for the production of leisure services. By introducing consumption of leisure services as a time‐consuming activity, our model generalizes the standard time allocation problem whereby total available time can be allocated between work, education, free time and leisure activities. We analytically characterize the balanced growth paths of the model, particularly in terms of time allocation and growth. Our comparative analysis of different service economies assumed at equilibrium includes the case of an industrial economy without a service sector and the potential multiple equilibria of such an economy.

Keywords: leisure, multi‐sector growth model, service economy

Suggested Citation

Castellani, Massimiliano and Dieci, Roberto, In Search of Leisure Time: An Endogenous Growth Model with Leisure Services (July 2019). Metroeconomica, Vol. 70, Issue 3, pp. 488-524, 2019, Available at SSRN: https://ssrn.com/abstract=3613975 or http://dx.doi.org/10.1111/meca.12254

Massimiliano Castellani (Contact Author)

University of Bologna - Department of Economics ( email )

Strada Maggiore 45
Bologna, 40125
Italy

Roberto Dieci

Department of Mathematics, University of Bologna ( email )

Piazza di Porta San Donato, 5
Bologna, I-40126
Italy

HOME PAGE: http://www.unibo.it/Faculty/default.aspx?UPN=roberto.dieci%40unibo.it

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
0
Abstract Views
61
PlumX Metrics