Weekly employee hours, weeks worked and intertemporal substitution

Article Abstract:

An approach was formulated to suit a representative consumer model with aggregate consumption and labor data. The approach involved giving the representative consumer a choice of work at the intensive and extensive margins. Joint estimation of Euler equations was also undertaken to evaluate the null hypothesis of a two-margin model. Large and almost equal preference shares connected with leisure time during weeks off and workweeks were found.

Consumption (Economics), Elasticity (Economics)

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Common cycles and the importance of transitory shocks to macroeconomic aggregates

Article Abstract:

Short-run co-movement restrictions are assessed in relation to macroeconomic movements. The usefulness of common cycles in assessing the impact of shocks is also examined.

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Sectoral shocks and aggregate fluctuations

Article Abstract:

A model of business cycles is developed incoporating independent sectoral shocks as drivers of aggregate fluctuations.

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