TY  - RPRT
        AU  - Lee, Jungmin
AU  - Kawaguchi, Daiji
AU  - Hamermesh, Daniel S.
        TI  - Aggregate Impacts of a Gift of Time
        PY  - 2011/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 6199
        UR  - https://www.iza.org/publications/dp6199
        AB  - How would people spend additional time if confronted by permanent declines in market work? We examine the impacts of cuts in legislated standard hours that raised employers' overtime costs in Japan around 1990 and Korea in the early 2000s. Using time-diaries from before and after these shocks, we show that these shocks were effective – per-capita hours of market work declined discretely. The economy-wide drops in market work were reallocated solely to leisure and personal maintenance. In the absence of changing household technology a permanent time gift leads to no increase in time spent in household production by the average individual.
        KW  - household production
KW  - macroeconomic effects
KW  - demand shock
KW  - time use
        ER  -