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Aggregate impacts of a gift of time

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  • Aggregate impacts of a gift of time
  • Lee, Jungmin; Kawaguchi, Daiji; Hamermesh, Daniel S.
  • National Bureau of Economic Research


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Title Aggregate impacts of a gift of time
Similar Titles
Material Type Reports
Author(English)

Lee, Jungmin; Kawaguchi, Daiji; Hamermesh, Daniel S.

Publisher

Cambridge:National Bureau of Economic Research

Date 2011-12
Series Title; No NBER Working Paper Series / 17649
Pages 33
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Social Development < Employment
Holding National Bureau of Economic Research

Abstract

How would people spend additional time if confronted by permanent declines in market work? We examine the impacts of cuts in legislated standard hours that raised employers' overtime costs in Japan around 1990 and Korea in the early 2000s. Using time-diaries from before and after these shocks, we show that these shocks were effective--per-capita hours of market work declined discretely. The economy-wide drops in market work were reallocated solely to leisure and personal maintenance. In the absence of changing household technology a permanent time gift leads to no increase in time spent in household production by the average individual.