Time Use, Productivity, and Household-centric Measurement of Welfare in the Digital Economy


Type
Article
Change log
Authors
Nakamura, Leonard 
Abstract

There is substantial interest in developing a broader understanding of progress than the standard indicator, real GDP, not least because digital technology is significantly changing both production within the GDP boundary and household activity outside the boundary. Market and household production and leisure now all involve substantial time online. This paper describes a measurement framework that would encompass extended utility combining time allocation – over working for pay, producing at home, and leisure – with monetary measures of objective or subjective well-being during each activity and new ways of measuring productivity in digitalized activities. Implementation would require time use statistics in addition to well-being data and direct survey evidence on the shadow price of time. We advocate an experimental set of time and well-being accounts and discuss their data requirements.

Description
Keywords
Journal Title
INTERNATIONAL PRODUCTIVITY MONITOR
Conference Name
Journal ISSN
1492-9759
1492-9767
Volume Title
Publisher
Centre for the Study of Living Standards
Publisher DOI
Sponsorship
Office For National Statistics (via National Institute For Economic & Social Research) (Unknown)
ESRC (via University of Manchester) (R125208)