The paper attributes one-third to one-fifth of the decline in work hours by less-educated young men to the rising use of technology for entertainment — mainly video games. The new study has not yet been published in a peer-reviewed journal, and the researchers say they are continuing to refine the precise figures.

So take it with a grain of salt... but I have now seen three different investment papers trumpeting this article like it's that goddamn "You're more likely to get killed by a terrorist than married over 40" bullshit thing in Newsweek.

veen:

Related:

ALSO: I spent a while trying to find the original article, "Leisure Luxuries and the Labor Supply of Young Men", but it's been removed from the only two sites that have hosted a PDF, and Google's cache isn't helping either. But I did find the abstract:

    “We explore the declining market hours of men in the last fifteen years, with a particular focus on less-educated young men (LEYM), who experienced a relatively large decline in work hours. The paper documents the decline in hours worked as well as corresponding trends in real wages and consumption, and shows that the large decline in hours is inconsistent with a stable labor supply curve with standard elasticities. We propose a new methodology that exploits detailed micro data on how individuals allocate their time away from work to infer how changes in leisure technology have altered labor supply. In particular, we use estimated “Leisure Engel Curves” to calculate that changes in leisure technology for computer goods broadly, and video games in particular, shift the labor supply curve by an amount between 10 and 25 percent of the observed decline in market work hours for prime age men and between 20 and 45 percent of the decline in market work hours for LEYM.”

and a sentence from the conclusion:

    “Our calculations suggest that innovations in gaming and computer leisure had a substantial impact on LEYM’s labor supply, explaining perhaps as much as two thirds of their increase in leisure time and 45 percent of their decline in market hours.”

Cynic-veen would say that it looks like advanced curve-fitting. Anyone else have some perspective on this?


posted 2743 days ago