The Value of Leisure Synchronization

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This paper explores the extent to which workers are willing to trade hours worked for leisure time shared with their spouse. We use the fact that the number and timing of paid vacation days to which French employees are entitled vary in a quasi-random way from year to year along with the dates of public holidays. Self-employed workers do not benefit from public holidays, but we show that a large fraction of them substitute a day of unpaid leisure for a day of paid work whenever their spouse gets an extra day of paid leave. (JEL D12, D91, J22, J23)