Time Use During the Great Recession
Author(s) -
Mark Aguiar,
Erik Hurst,
Loukas Karabarbounis
Publication year - 2013
Publication title -
american economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.936
H-Index - 297
eISSN - 1944-7981
pISSN - 0002-8282
DOI - 10.1257/aer.103.5.1664
Subject(s) - recession , business cycle , economics , work (physics) , production (economics) , work hours , labour economics , demographic economics , work time , survey data collection , microeconomics , working hours , macroeconomics , statistics , mathematics , mechanical engineering , engineering
Using data from the American Time Use Survey between 2003 and 2010, we document that home production absorbs roughly 30 percent of foregone market work hours at business cycle frequencies. Leisure absorbs roughly 50 percent of foregone market work hours, with sleeping and television watching accounting for most of this increase. We document significant increases in time spent on shopping, child care, education, and health. Job search absorbs between 2 and 6 percent of foregone market work hours. We discuss the implications of our results for business cycle models with home production and non-separable preferences.
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