A Simple Identification Strategy for Gary Becker's Time Allocation Model
11 Pages Posted: 4 May 2015
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A Simple Identification Strategy for Gary Becker's Time Allocation Model
IZA Discussion Paper No. 9001
Number of pages: 11
Posted: 04 May 2015
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A Simple Identification Strategy for Gary Becker's Time Allocation Model
KU LEUVEN Center for Economic Studies Discussion Paper Series DPS15.06
Number of pages: 11
Posted: 18 Apr 2015
Downloads
31
Abstract
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.
Keywords: time use, home production, identification, production shifter
JEL Classification: D11, D12, D13
Suggested Citation: Suggested Citation
Cherchye, Laurens and de Rock, Bram and Vermeulen, Frederic, A Simple Identification Strategy for Gary Becker's Time Allocation Model. IZA Discussion Paper No. 9001, Available at SSRN: https://ssrn.com/abstract=2601687 or http://dx.doi.org/10.2139/ssrn.2601687
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