Economic Analysis: Theory and Practice
 

The impact of macroeconomic determinants on changes in the number of working hours in production and non-production spheres

Vol. 17, Iss. 2, FEBRUARY 2018

Received: 25 October 2017

Received in revised form: 20 November 2017

Accepted: 12 December 2017

Available online: 1 March 2018

Subject Heading: ECONOMIC ADVANCEMENT

JEL Classification: 

Pages: 204–216

https://doi.org/10.24891/ea.17.2.204

Zolotov A.V. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
zoav6@iee.unn.ru

ORCID id: not available

Zaikova I.A. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
ZAI91@yandex.ru

ORCID id: not available

Importance In the modern economy, there are changes in the duration of working time of the employed in both the production and non-production sphere. However, an indicative trend of recent decades is a redistribution of workers from the production to non-production sphere. This fact speaks for the effect of macroeconomic determinants of working hours.
Objectives The study aims to specify macroeconomic determinants of working hours of the employed.
Methods We performed a comparative analysis of the leading countries of the world, calculated the GDP level per one employee, dynamics of employment and working time fund from 1991 to 2015, as well as the dynamics of time worked per one employed. The paper presents scenarios of changes in working hours depending on the interaction of macroeconomic determinants.
Results On the basis of statistical data, we show changes in macroeconomic determinants from 1991 to 2015 and reveal trends contributing to changes in working time per one employed.
Conclusions We conclude that macroeconomic determinants affect the change in working time per one employee. This enables to explain the existing dynamics of working hours and provides tools to predict these changes.

Keywords: macroeconomic determinant, employment, labor productivity, working time

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ISSN 2311-8725 (Online)
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