A Simple Identification Strategy for Gary Becker's Time Allocation Model

The implementation of Gary Becker's (1965) time allocation model is hampered by the fact that values of the different time uses are usually not observed. In practice, one often assumes that the value of time is uniform across time uses by using market wages. This approach implies a fundamental identification problem. We demonstrate that the identification problem can be solved if production shifters are available.

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Year of publication:	2015-04
Authors:	Cherchye, Laurens ; De Rock, Bram ; Vermeulen, Frederic
Institutions:	Institute for the Study of Labor (IZA)
Subject:	time use \| home production \| identification \| production shifter

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Extent:	application/pdf
Series:	IZA Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 9001 11 pages
Classification:	D11 - Consumer Economics: Theory ; D12 - Consumer Economics: Empirical Analysis ; D13 - Household Production and Intrahouse Allocation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011268327