tag:blogger.com,1999:blog-38545607.post382582502659294964..comments2024-03-09T10:26:48.789+00:00Comments on economics, psychology, policy: Early to Bed, Early to Rise... Depends on the TV Schedule in Your Time ZoneEmma Watsonhttp://www.blogger.com/profile/11466193733741012673noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-38545607.post-4695342762238702462008-11-28T14:49:00.000+00:002008-11-28T14:49:00.000+00:00Well, the natural response would be to say that th...Well, the natural response would be to say that the fundamental scarce resource in the economy is the availability of human time, and that the allocation of time to various activities will ultimately determine the relative prices of goods and services, the growth path of real output, and the distribution of income (Juster and Stafford, JEL, 1991). <BR/><BR/>An example of an interesting application (in my opinion) is Stinebrickner and Stinebrickner (JoE, 2004) who look at time use and college outcomes. <BR/><BR/>There are other interesting things that we have learned about time use in other domains. Aguiar and Hurst (QJE, 2007) "document<BR/>a growing inequality in leisure that is the mirror image of the growing<BR/>inequality of wages and expenditures, making welfare calculation based solely on<BR/>the latter series incomplete."<BR/><BR/>Hamermesh (EER, 2005) shows that more educated people engage in less routine behavior; higher household incomes enable people to purchase more temporal variety. "The positive income effects and impacts of schooling indicate yet another avenue by which standard measures of inequality understate total economic inequality."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-38545607.post-68666749940668677742008-11-24T22:12:00.000+00:002008-11-24T22:12:00.000+00:00I wonder about these papers on time use.The overwh...I wonder about these papers on time use.The overwhelming question is "So what?" :they never seem to say anything very interesting except as a curiousum.Kevin Dennyhttps://www.blogger.com/profile/17891633553910348880noreply@blogger.com