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Extended theory about the allocation of time: Description and application to the increase in the retirement age policies

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Sanchis, Raúl G. (2013) Extended theory about the allocation of time: Description and application to the increase in the retirement age policies. [ Working Papers; nº 07, 2013, ]

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Abstract

This paper revises mainstream economic models which include time use in an explicit and endogenous manner, suggesting a extended theory which escape from the main problem existing in the literature. In order to do it, we start by presenting in section 2 the mainstream time use models in economics, showing their main features. Once this is done, we introduce the reader in the main problems this kind of well established models imply, within section 3, being the most highlighted the problem of joint production. Subsequently, we propose an extended theory which solves the problem of joint production; this is extensively described in section 4. Last, but not least, we apply this model to offer a time use analysis of the effect of a policy which increases the retirement age in a life-cycle perspective for a representative individual.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Allocation of time; Joint production; Time use; Retirement age; Life cycle
Subjects:Social sciences > Economics > Econometrics
Social sciences > Economics > Economic indicators
Series Name:Working Papers
Volume:2013
Number:07
ID Code:38231
Deposited On:23 Jun 2016 12:13
Last Modified:23 Jun 2016 12:15

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