Time Vs. Goods: The Value of Measuring Household Production Technologies / Reuben Gronau, Daniel S. Hamermesh.

Format:

Book

Author/Creator:

Gronau, Reuben.

Contributor:

National Bureau of Economic Research.

Hamermesh, Daniel S.

Series:

Working Paper Series (National Bureau of Economic Research) no. w9650.

NBER working paper series no. w9650

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Time Vs. Goods

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2003.

Summary:

We take U.S. and Israeli household data on expenditures of time and goods, generate an exhaustive set of commodities that households produce/consume using them, and calculate their relative goods intensities. Leisure activities are uniformly relatively time intensive, health, travel and lodging relatively goods intensive. We demonstrate how education and age alter the goods intensity of household production. The results of this accounting can be used as guides to: Understanding how goods and income taxation interact to affect welfare; expanding notions of the determinants of international flows of goods; generating models of business cycles and endogenous growth to include interactions of goods and time consumption; and obtaining better measures of the distribution of well being.

Notes:

Print version record

April 2003.