English, Article, Journal or magazine article edition: The Effects of Labor Market Conditions on Working Time: the US-EU Experience Claudio Michelacci; Josep Pijoan-Mas

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Bookmark: http://trove.nla.gov.au/version/145339
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • THE EFFECTS OF LABOR MARKET CONDITIONS ON WORKING TIME: THE US-EU EXPERIENCE
Author
  • Claudio Michelacci
  • Josep Pijoan-Mas
Physical Description
  • preprint
Notes
  • We consider a labor market search model where, by working longer hours, individuals acquire greater skills and thereby obtain better jobs. We show that job inequality, which leads to within-skill wage differences, gives incentives to work longer hours. By contrast, a higher probability of losing jobs, a longer duration of unemployment, and in general a less tight labor market discourage working time. We show that the different evolution of labor market conditions in the US and in Continental Europe over the last three decades can quantitatively explain the diverging evolution of the number of hours worked per employee across the two sides of the Atlantic. It can also explain why the fraction of prime age male workers working very long hours has increased substantially in the US, after reverting a trend of secular decline.
  • working hours, wage inequality, unemployment, search, human capital filtering
  • RePEc:rim:rimwps:28-08
  • We consider a labor market search model where, by working londer hours, individuals acquire greater skills and thereby obtain better jobs. We show that job inequality, which leads to within-skill wage differences, gives incentives to work longer hours. By contrast, a higher probability of losing jobs, a longer duration of unemployment, and in general a less tight labor market discourage working time. We show that the different evolution of labor market conditions in the US and in Continental Europe over the last three decades can quantitatively explain the diverging evolution of the number of hours worked per employee across the two sides of the Atlantic. It can also explain why the fraction of prime age male workers working very long hours has increased substantially in the US, after reverting a trend of secular decline.
  • RePEc:cmf:wpaper:wp2007_0705
Language
  • English
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