Market work, home work and taxes : a cross country analysis / Richard Rogerson.
Material type:
TextSeries: Working paper series (National Bureau of Economic Research) ; no. 14400.Publication details: Cambridge, Mass. : National Bureau of Economic Research, 2008Description: 29 p. : ill. ; 22 cmSubject(s): Labor market -- United States -- Econometric models | Labor market -- Europe -- Econometric models | Taxation -- United States | Taxation -- EuropeLOC classification: HB1 | .N38 no. 14400Online resources: Click here to access online Summary: This paper uses a simple model of labor supply extended to allow for home production to understand the extent to which differences in taxes can account for differences in time allocations between the US and Europe. Once home production is included, the elasticity of substitution between consumption and leisure is almost irrelevant in determining the response of market hours to higher taxes. But to account for observed differences in leisure and time spent in home production, one requires a large elasticity of substitution between consumption and leisure, and a small elasticity of substituion betwen time and goods in home production.
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University of Macedonia Library Βιβλιοστάσιο Β (Stack Room B) | Research Papers | HB1.N38 no. 14400 (Browse shelf (Opens below)) | 1 | Available | 0013115735 |
Includes bibliographical references (p. 26-29).
This paper uses a simple model of labor supply extended to allow for home production to understand the extent to which differences in taxes can account for differences in time allocations between the US and Europe. Once home production is included, the elasticity of substitution between consumption and leisure is almost irrelevant in determining the response of market hours to higher taxes. But to account for observed differences in leisure and time spent in home production, one requires a large elasticity of substitution between consumption and leisure, and a small elasticity of substituion betwen time and goods in home production.
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