IMF Working Papers

The quantification of how aspects of a job are valued by employees sheds light on the potential for labor market reform in Japan. Using a nationwide sample of 1,046 working-age adults, we conduct a choice experiment that examines individuals’ willingness to trade wages against job characteristics such as the extent of overtime, job security, the possibility of work transfer and relocation. Our results suggest that: i) workers have high WTP (willingness to pay) to avoid extreme overtime and work transfer, ii) women have higher WTP than men, and iii) higher WTP for women are driven in part by feelings of guilt.