American Economic Review Vol. 83 No. 4 1993
Working in the Market, Working at Home, and the Acquisition of Skills: A General-Equilibrium Approach
Abstract
Over time, productivity and education have increased, while hours worked have not. Cross-sectionally, higher-wage individuals have more schooling, more hours worked in the market, fewer hours worked at home, and a lower variance of market hours. Over the life cycle, older individuals have higher wages, more hours worked both in the market and at home, a lower variance of market hours, and almost the same amount of education as younger agents. These and other facts are documented, and a simple overlapping-generations model with skill acquisition and home production which delivers most of these properties is constructed.
- Volume
- 83
- Issue
- 4
- Pages
- 893-907
- Sources
- bibtex:phds-export.bib