Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10226776 | Journal of Economic Dynamics and Control | 2018 | 45 Pages |
Abstract
This paper uses a single-sector dynamic stochastic general equilibrium (DSGE) model to analyze time use patterns over the business cycle. Using data from the American Time Use Survey, we solve and simulate a model of a utility maximizing consumer subject to a penalty function based on a biological model for sleep. We find that sleep is countercyclical with the business cycle: sleep increases as economic activity declines. We also show that our model provides a reasonable estimate of observed sleep behavior over the period from 2003 through 2016. Our results suggest that separating sleep from other non-work activities is a useful and productive exercise for these types of models.
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
James H. Cardon, Eric R. Eide, Kerk L. Phillips, Mark H. Showalter,