In this article, we demonstrate that a small degree of stochastic variation in the depreciation rate of capital can greatly reduce the comovement between hours worked and labor productivity in a neoclassical growth model. The depreciation rate is modeled as a Markov process to place a strict...

In this chapter we explore the macroeconomics of time allocation. We begin with an overview of the trends in market hours in the United States, both in the aggregate and for key subsamples. After introducing a Beckerian theoretical framework, the chapter then discusses key empirical patterns of...

This paper analyzes the question why desired and actual sharing of market work and family duties among parents with young children in Germany fall apart. Potential explanations include financial incentives favoring the single-earner model, as well as constraints in choosing working hours due to...