Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production? - Université Paris 1 Panthéon-Sorbonne Access content directly
Other Publications Year : 2014

Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production?

Abstract

This article uses household data to measure the substitutability between time and money for eight commodity groups and different countries. The elasticities estimated using the household's market wage and an estimated opportunity cost of time are positive, indicating substitutability, and much larger for all goods compared to food. The estimates with the wage rate are, in general, smaller than those obtained using the opportunity cost of time.
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Dates and versions

hal-01112620 , version 1 (03-02-2015)

Identifiers

  • HAL Id : hal-01112620 , version 1

Cite

Carla Canelas, François Gardes, Philip Merrigan, Silvia Salazar. Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production?. 2014. ⟨hal-01112620⟩
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