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Information about this author at RePEc
NBER Working Papers and Publications
|January 2017||Family Economics Writ Large|
with Jeremy Greenwood, Nezih Guner: w23103
Powerful currents have reshaped the structure of families over the last century. There has been (i) a dramatic drop in fertility and greater parental investment in children; (ii) a rise in married female labor-force participation; (iii) a significant decline in marriage and a rise in divorce; (iv) a higher degree of positive assortative mating; (v) more children living with a single mother; (vi) shifts in social norms governing premarital sex and married women's roles in the workplace. Macroeconomic models explaining these aggregate trends are surveyed. The relentless flow of technological progress and its role in shaping family life are stressed.
Published: Jeremy Greenwood & Nezih Guner & Guillaume Vandenbroucke, 2016. "Family Economics Writ Large," Federal Reserve Bank of St. Louis, Working Papers, vol 2016(026).
|September 2005||Hours Worked: Long-Run Trends|
with Jeremy Greenwood: w11629
For 200 years the average number of hours worked per worker declined, both in the market place
and at home. Technological progress is the engine of such transformation. Three mechanisms are
(i) The rise in real wages and its corresponding wealth effect;
(ii) The enhanced value of time off from work, due to the advent of time-using leisure goods;
(iii) The reduced need for housework, due to the introduction of time-saving appliances.
These mechanisms are incorporated into a model of household production. The notion of Edgeworth-Pareto complementarity/substitutability is key to the analysis. Numerical examples link theory and data.
This note has been prepared for The New Palgrave Dictionary of Economics, 2nd edition, edited
by Lawrence E. Blume and Steven N. Durlauf (London...