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

The implementation of Gary Beckers (1965) time allocation model is ham-pered by the fact that values of the di¤erent time uses are usually not observed.In practice, one often assumes that the value of time is uniform across time usesby using market wages. This approach implies a fundamental identication prob-lem. We demonstrate that the identication problem can be solved if productionshifters are available.

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Year of publication:	2015-03
Authors:	De Rock, Bram ; Cherchye, Laurens ; Vermeulen, Frederic
Institutions:	European Centre for Advanced Research in Economics and Statistics (ECARES), Solvay Brussels School of Economics and Management
Subject:	time use \| home production \| identification \| production shifter

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Extent:	application/pdf
Series:	Working Papers ECARES.
Type of publication:	Book / Working Paper
Notes:	Published by: The text is part of a series ECARES Working Papers Number ECARES 2015-10 8 pages long
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/10011206278