The Optimal Parental Time for Thai Economy
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Abstract
Since parents invest both their material resources and time into raising their children, this paper
construct a five period Heterogeneous Overlapping Generation model to investigate the optimal
how parental time allocation for their children. We use the calibrated parameters to find the optimal
parental time for Thai economy by difering values of parental time in the model to generate the
results for three different scenarios. To minimize wealth inequality the parental time should be set
at 12-15 percent. To maximize the total output, the average parental time should be set at 12-21%
of available time. While increasing the parental time will improve output and wealth equality,
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