The immaterial sustenance of work and leisure :A new look at the work leisure model (original) (raw)

Estimating the value of work and leisure

Arbeitsberichte Verkehrs- und Raumplanung, 2006

From a consumer behaviour approach including goods and activities, a model system encompassing a labour supply and time assignment equations is explicitly derived. From this, it is shown that the values of both leisure and work can be obtained. The theoretical framework is applied using fairly detailed data from three samples in Santiago (Chile), Karlsruhe (Germany), and Thurgau (Switzerland).

Work effort effects in the classical labor supply model

This paper considers an extension of the classical static labor-leisure choice model to allow for an on-the-job leisure choice. The key result is that an incomecompensated wage increase, while theoretically increasing hours worked, will likely increase on-the-job leisure.

The Institutions of the Work-Leisure Divide

Quaderni DEPS. Università di Siena, 2021

Even in the most advanced societies, individuals seem to live in mutually exclusive social and economic spheres. During their leisure time, there is an increasing supply of all sorts of goods that should allow all sorts of happy activities. During their work time they feel used as increasingly flexible means of production. Institutions, which include consumption, are often excluding production. Institutions, which include production, are often excluding consumption. Standard economic theory has become a powerful ideology justifying this divide. The paper challenges this ideology and proposes a more general approach where in principle all human activities can contribute to final utility as well as to production. Our approach can give a rationale for policies favoring inclusive institutions that try to overcome the work-leisure divide and allow us to move towards a more satisfactory structure of human activities.

Cheap Thrills: the Price of Leisure and the Global Decline in Work Hours

SSRN Electronic Journal, 2020

The real price of recreation goods and services has fallen dramatically over the last century. At the same time, hours per worker have also been on a steady decline. As recreation goods make leisure time more enjoyable, we investigate if the fall in their price has contributed to the decline in work hours. Using aggregate data from OECD countries, as well as disaggregated data from the United States, we provide evidence that the two are strongly related. To identify the effect of recreation prices on hours worked, we use variation in the bundle of recreational goods across demographic groups to instrument for the changing price of leisure faced by these groups over time. We then construct a macroeconomic model with general preferences that allows for trending relative prices and work hours along a balanced growth path. We estimate the model and find that the decline in recreation prices can explain a large fraction of the global decline in work hours.

Time Allocation and Economic Welfare

Labour, 1992

The paper analyzes the pattern of time allocation between work and leisure in industrialized countries. Some alternative explanations as to the slowing down in the shortening of working hours to those offered by the traditional economic theory are presented, in the light of empirical findings in the United States. Workers' endogenous preferences seem to play an important role in explaining this unforeseen trend in time allocation.

Estimating the value of leisure from a time allocation model

… Research Part B: …, 2008

A new approach to calculate the value of leisure is developed and applied. This is derived from a consumer behaviour model that includes goods and activities. A system of time assignment equations is explicitly obtained from which the values of both leisure and work can be analytically calculated using econometrically estimated parameters. This framework is applied using detailed data from three samples in diverse settings: Santiago (Chile), Karlsruhe (Germany), and Thurgau (Switzerland). The empirically estimated values of leisure differ from the wage rate and a theoretical justification is provided.

Estimating the Value of Leisure from a Time Assignment Model

2007

Underemployment and normal leisure

Economics Letters, 1984

A combined worksharing-layoff-wage-severance pay contract is shown to imply, inter nlia, that normal leisure and underemployment do coexist provided the elasticity of substitution between employment and hours is sufficiently low (as defined rigorously in the text).

Leisure vs. Labor: What do Recent Labor Market Trends Reveal About the "Overworked" American?

2004

This study analyzes data on labor market activity from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics. Our results indicate that during the1990s annual hours worked increased for most Americans. This trend is due primarily to an increase in the annual hours of year-round full-time workers, and to a rise in the fraction of workers who report year-round full-time employment. We also find that annual hours worked increased more significantly for men than for women. Thus, the gender gap in annual hours increased over the decade.

Are Leisure And Work Productivity Correlated? A Macroeconomic Investigation

Annals - Economy Series, 2016

It is common sense to state that working without being mentally fatigued leads to increased labor productivity. Extensive overtime and putting in long hours on a regular basis without using proper de-stressing methods inhibit work productivity. Recently, several countries have manifested an interest towards reducing the daily work quantum (in 2015 Sweden started the shift to a 6 hours workday, France regulated in 2000 the 35 hours workweek) with the aim of improving the quality of life as well as increasing companies’ economic performance. But does disposing of more free time automatically lead to having a better life or superior business returns? Of course not – spare time also needs to be used effectively in order to achieve these goals. Every person is unique and therefore each individual will opt for different pass time activities to attain mental tension relief. But, there is evidence which sustains that allocating more time to leisure is directly correlated with increased work...

The immaterial sustenance of work and leisure :A new look at the work leisure model (original) (raw)

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