Time vs. goods: The value of measuring household production technologies

Reuben Gronau, Daniel S. Hamermesh*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

46 Scopus citations

Abstract

We take U.S. and Israeli household data on expenditures of time and goods, generate an exhaustive set of commodities that households produce/consume using them, and calculate their relative goods intensities. Leisure activities are uniformly relatively time intensive, health, travel and lodging relatively goods intensive. We demonstrate how education and age alter the goods intensity of household production. The results of this accounting can be used as guides to: understanding how goods and income taxation interact to affect welfare; expanding notions of the determinants of international flows of goods; generating models of business cycles and endogenous growth to include interactions of goods and time consumption; and obtaining better measures of the distribution of well being.

Original languageEnglish
Pages (from-to)1-16
Number of pages16
JournalReview of Income and Wealth
Volume52
Issue number1
DOIs
StatePublished - Mar 2006

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