Hours Worked: Long-Run Trends

19 Pages Posted: 25 May 2006

See all articles by Jeremy Greenwood

Jeremy Greenwood

University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)

Guillaume Vandenbroucke

Federal Reserve Banks - Federal Reserve Bank of St. Louis

Multiple version iconThere are 2 versions of this paper

Date Written: September 2005

Abstract

For 200 years the average number of hours worked per worker declined, both in the market placeand at home. Technological progress is the engine of such transformation. Three mechanisms arestressed:(i) The rise in real wages and its corresponding wealth effect;(ii) The enhanced value of time off from work, due to the advent of time-using leisure goods;(iii) The reduced need for housework, due to the introduction of time-saving appliances.These mechanisms are incorporated into a model of household production. The notion of Edgeworth-Pareto complementarity/substitutability is key to the analysis. Numerical examples link theory and data.This note has been prepared for The New Palgrave Dictionary of Economics, 2nd edition, editedby Lawrence E. Blume and Steven N. Durlauf (London: Palgrave Macmillan).

Suggested Citation

Greenwood, Jeremy and Vandenbroucke, Guillaume, Hours Worked: Long-Run Trends (September 2005). NBER Working Paper No. w11629. Available at SSRN: https://ssrn.com/abstract=807618

Jeremy Greenwood (Contact Author)

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
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HOME PAGE: http://jeremygreenwood.net

National Bureau of Economic Research (NBER)

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Guillaume Vandenbroucke

Federal Reserve Banks - Federal Reserve Bank of St. Louis ( email )

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Saint Louis, MO 63011
United States
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HOME PAGE: http://www.guillaumevdb.net/

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