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Welfare Analysis of the Allocation of Time During the Great Recession

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Academic year: 2021

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Table 1: Descriptive Statistics t i !t i m i P t i i t i m iPi m i !t i + m i !t i +m iyf leisure 29.412 224.754 179.079 0.350 0.161 406.480 0.236 housing 12.579 104.351 253.231 0.145 0.254 364.973 0.207 food 13.705 114.821 107.577 0.171 0.122 224.089 0.13
Table 2: Ratio of the Value of the Time Input Over the Value of Market Goods:
Figure 1: Total Expenditures, Wage Rate, and The Shadow Price of Time.
Figure 2: The shadow price of time (!) and the geometric weighted means of monetary (m 0 ) and time (t 0 ) inputs.
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