Publications: New study by Mihaela Pintea to appear in the Journal of Macroeconomics

Mihaela Pintea's paper, "Leisure Externalities: Implications for Growth and Welfare" has been accepted for publication in the Journal of Macroeconomics.

Prof. Pintea's paper studies the effect on a country's economic growth of individuals caring about the amount of leisure they take relative to the amount everyone else takes. Unless you've spent a lot of time thinking about this question, and thinking about it in the way that economists do, the paper has some surprises. For example, if people like to take more time off when others do perhaps because they like to take time off together then the correct government policy is to tax work to encourage even more leisure. If people like to work when others take time off perhaps because they don't like the crowds at the beach then everyone works too little. If you're surprised and want to understand more, you can read the pre-publication version here.