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来源类型Working Paper
规范类型报告
DOI10.3386/w21318
来源IDWorking Paper 21318
The Elasticity of Substitution Between Time and Market Goods: Evidence from the Great Recession
Aviv Nevo; Arlene Wong
发表日期2015-07-06
出版年2015
语种英语
摘要We document a change in household shopping behavior during the Great Recession. Households purchased more on sale, larger sizes and generic products, increased coupon usage, and shopping at discount stores. We estimate that the returns to these shopping activities declined during the recession and therefore this behavior implies a significant decrease in households’ opportunity cost of time. Using the estimated cost of time and time use data, we estimate a high elasticity of substitution between market expenditure and time spent on non-market work. We find that households smooth a sizable fraction of consumption by varying their time allocation during recessions.
主题Microeconomics ; Households and Firms ; Macroeconomics ; Business Cycles ; Labor Economics ; Labor Supply and Demand
URLhttps://www.nber.org/papers/w21318
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578993
推荐引用方式
GB/T 7714
Aviv Nevo,Arlene Wong. The Elasticity of Substitution Between Time and Market Goods: Evidence from the Great Recession. 2015.
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