{"title":"Desired work-leisure balance in a partial equilibrium job search model with multiple job holding","authors":"Simon Ming Sum Lo","doi":"10.2478/izajole-2023-0006","DOIUrl":null,"url":null,"abstract":"Abstract Work-leisure balances are beneficial to society. A partial equilibrium job search model is developed to explain desired work-leisure tradeoffs for single-job holders and multiple-job holders. Significant work-leisure mismatches are found: 63% of the observations underwork by an average of 17 hours per week, while 37% overwork by 8.5 hours. The value of leisure is approximately four times the average hourly real wage when a single job is held, and it drops by one-third when multiple jobs are held. Models ignoring possibilities of multiple jobholding overstate the elasticity of leisure and understate the value of leisure.","PeriodicalId":37841,"journal":{"name":"IZA Journal of Labor Economics","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"IZA Journal of Labor Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2478/izajole-2023-0006","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract Work-leisure balances are beneficial to society. A partial equilibrium job search model is developed to explain desired work-leisure tradeoffs for single-job holders and multiple-job holders. Significant work-leisure mismatches are found: 63% of the observations underwork by an average of 17 hours per week, while 37% overwork by 8.5 hours. The value of leisure is approximately four times the average hourly real wage when a single job is held, and it drops by one-third when multiple jobs are held. Models ignoring possibilities of multiple jobholding overstate the elasticity of leisure and understate the value of leisure.
期刊介绍：
As of March 31, 2019, the IZA Open Access Journal Series will transfer to Sciendo. Please use the Springer Editorial Manager system for all submissions until February 28. During the transfer period in March 2019 you may direct your submissions to journals@iza.org. The IZA Journal of Labor Economics publishes scientific articles in all areas of labor economics. This refers to original high-quality theoretical and applied contributions on both microeconomic and macroeconomic labor-related topics. In particular, the IZA Journal of Labor Economics encourages submissions in subject areas that are closely linked to the various IZA Program Areas, ranging from education, family and environment to mobility, behavioral and personnel economics, and labor market institutions, among others. The IZA Journal of Labor Economics is part of IZA’s mission of contributing to social and economic discourse, enabling political decision-making to be based on the best available scientific knowledge. We want to stimulate research to close knowledge gaps. Hence, the IZA Journal of Labor Economics particularly welcomes contributions that provide scientifically sound answers to open and relevant questions of modern labor economics.
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