Welfare Analysis of the Allocation of Time During the Great Recession

Anil Alpman () and François Gardes ()
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Anil Alpman: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique
François Gardes: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Using a generalization of the time allocation model to estimate the opportunity cost of time, we explore the intratemporal substitutions between goods and time and the variations of individuals' full expenditures and welfares during the Great Recession. Our findings provide empirical evidence about the importance the home production over the business cycles and show that the reallocation of time absorbed approximately a third of the Great Recession's negative welfare impact.

Keywords: Home Production; Time Allocation; Welfare; Great Recession; Production domestiques; Allocation du temps; Richesse (search for similar items in EconPapers)
Date: 2016-03
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01159507v2
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Published in 2016

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-01159507

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