Desired work-leisure balance in a partial equilibrium job search model with multiple job holding

Sum Lo Simon Ming ()
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Sum Lo Simon Ming: The United Arab Emirates University, Department of Innovation in Government and Society

IZA Journal of Labor Economics, 2023, vol. 12, issue 1, 43

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.

Keywords: job search model; work-leisure balance; value of time; multiple jobholding; underemployment and overemployment; wage elasticity of labor supply; employment and unemployment duration (search for similar items in EconPapers)
JEL-codes: J01 J22 J28 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:izajle:v:12:y:2023:i:1:p:43:n:6

DOI: 10.2478/izajole-2023-0006

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