Some Welfare Economics of Working Time

Felix FitzRoy () and Jim Jin ()
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Felix FitzRoy: University of St. Andrews

No 14810, IZA Discussion Papers from IZA Network @ LISER

Abstract: Few skilled workers in the UK have flexible working time – GPs are the exception – most can only choose between unemployment, or full-time work, which has changed little in recent years, while part time work is mainly unskilled. This market rigidity imposes major welfare losses, in contrast to flexibility of worktime for all in the Netherlands, which has the best work-life balance. Stagnating real wages and rising employer market power and inequality follow declining unionisation, but a standard four-day week, tax reform, basic income, and flexibility rights for all could reverse these trends and provide major welfare gains.

Keywords: working hours; relative income; labour share; basic income (search for similar items in EconPapers)
JEL-codes: D63 H23 J22 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2021-10
New Economics Papers: this item is included in nep-cwa, nep-lma and nep-ltv
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