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NBER WORKING PAPER SERIES

LEISURE LUXURIES AND THE LABOR SUPPLY OF YOUNG MEN
Mark Aguiar
Mark Bils
Kerwin Kofi Charles
Erik Hurst
Working Paper 23552
http://www.nber.org/papers/w23552

NATIONAL BUREAU OF ECONOMIC RESEARCH
1050 Massachusetts Avenue
Cambridge, MA 02138
June 2017

We thank Shirley Yarin and Hyun Yeol Kim for outstanding research assistance. We also thank
Thomas Crossley, Matt Gentzkow, Patrick Kehoe, John Kennan, Pete Klenow, Alan Krueger,
Hamish Low, Kevin Murphy, and Yona Rubinstein, as well as seminar participants at Berkeley,
Board of Governors of the Federal Reserve, Boston University, Chicago, Columbia, Harvard,
Houston, IIES Stockholm, LSE, Penn, Princeton, Stanford, UCL, UIC, Wharton, and the Federal
Reserve Banks of Atlanta, Chicago and Richmond for helpful comments. The views expressed
herein are those of the authors and do not necessarily reflect the views of the National Bureau of
Economic Research.
NBER working papers are circulated for discussion and comment purposes. They have not been
peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies
official NBER publications.
© 2017 by Mark Aguiar, Mark Bils, Kerwin Kofi Charles, and Erik Hurst. All rights reserved.
Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission
provided that full credit, including © notice, is given to the source.