Are time and money equally substitutable for all commodity groups in the household’s domestic production?

Article dans une revue: This article uses time-use and household expenditure data to measure the substitutability between time and money within the Beckerian household production framework. The elasticity of substitution is estimated for five commodity groups and across two developing countries: Ecuador and Guatemala. The estimated elasticities are positive, indicating substitutability, and much larger for all other goods compared to food. Our results raise some interesting questions regarding the policy effects of an intervention that does not consider the money/time trade-offs in consumption.

Auteur(s)

Carla Canelas, François Gardes, Philip Merrigan, Silvia Salazar

Revue
  • Review of Economics of the Household
Date de publication
  • 2019
Pages
  • 267-285
Version
  • 1
Volume
  • 17