News and Tribune

Community News Network

November 21, 2012

Slate: The neglected economics of trying to find a job you enjoy

WASHINGTON — Everyone knows that money aside, it's better to have a job you love than a job you hate. Some of that is the nature of the task. I think the issues I cover are really interesting, but lots of people aren't interested in them and would find it extremely tedious to write about them all day. And some of it is co-workers. Most people spend a lot of time at their place of work and a lot of time interacting with your co-workers. Working alongside people whose company you enjoy is much better than working alongside people you hate.

And yet even though everyone knows these things, the nonmonetary aspects of job quality are an incredibly neglected topic in economics.

I was reminded of this the other day when I caught up with an old friend who's a recently minted economics Ph.D. from the University of Michigan and whose job-market paper "Match Quality with Unpriced Amenities" is precisely on this subject. "Typically, monetary productivity is assumed to be the sole determinant of the worker-firm match," even though that clearly isn't the case, he writes. The work of the paper is to try to build a tractable structural search model that "allows job match quality to depend additionally on unpriced job amenities" (i.e., people try to find jobs they like) and "permitting match quality estimation that is robust to both unobserved amenities and selection." One takeaway from the paper is that traditional estimates of deadweight loss from wage taxation are producing overestimates, and that's increasingly the case as unpriced amenities become more important.

This subject also strikes me as relevant to the conversation around productivity growth. We have a stylized fact whereby as a society gets richer, its citizens should be expected to consume more leisure at the margin. And indeed we see that over time hours worked has tended to fall in rich countries.

Text Only | Photo Reprints
Community News Network
LOCAL MAGAZINES
Easter 2014 photos


Click on any photo to purchase it.

SPECIAL CONTENT
Twitter Updates
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
Death Penalty Expert: 'This is a Turning Point' House Committee at Odds Over Obama Lawsuit Raw: MH17 Victim's Bodies Arrive in Netherlands Raw: UN School Used As Shelter Hit by Tank Shell Raw: Gunmen Attack Iraqi Prison Convoy Plane Leaves Ukraine With More Crash Victims The Rock Brings Star Power to Premiere Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return
2013 Photos of the year


Take a look at our most memorable photos from 2013.