<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>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.</p>
</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.

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

Department of Innovation in Government and Society

IZA Journal of Labor Economics

This work is licensed under the Creative Commons Attribution 4.0 International License.

Work-leisure balances are beneficial to society. A partial equilibrium job search model is developed to explain desired work-leisure tradeoffs for single-job...

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

Published Online: Dec 30, 2023

Page range: -

Accepted: Feb 06, 2023

DOI: https://doi.org/10.2478/izajole-2023-0006

Keywords
job search model, work-leisure balance, value of time, multiple jobholding, underemployment and overemployment, wage elasticity of labor supply, employment and unemployment duration

© 2023 Simon Ming Sum Lo, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

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

Published Online: Dec 30, 2023

Page range: -

Accepted: Feb 06, 2023

DOI: https://doi.org/10.2478/izajole-2023-0006

Keywordsjob search model, work-leisure balance, value of time, multiple jobholding, underemployment and overemployment, wage elasticity of labor supply, employment and unemployment duration

© 2023 Simon Ming Sum Lo, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
job search model, work-leisure balance, value of time, multiple jobholding, underemployment and overemployment, wage elasticity of labor supply, employment and unemployment duration