本文建立一個封閉經濟體，其中包含家戶、中間財廠商與完全競爭之最終財
廠商、貨幣當局制訂利率政策。本文藉由將總勞動投入拆分為每人工時與就業率此兩種內生變數，考慮價格僵固性與勞動摩擦的交互作用，並加入每人工時僵固性參數，探討在動態隨機一般均衡理論模型 (dynamic stochastic general equilibrium, DSGE) 的架構下，並以美國的總體資料探討彈性工時是否能拯救失業率，即在失業率上升時，彈性工時政策是否會降低失業率上升的波動幅度。根據模擬結果，不論是在面對反向生產技術衝擊或是正向貨幣政策衝擊，存在價格僵固性與勞動摩擦的情況下，就業率與每人工時皆會有抵換關係，且面對衝擊時，就業率與每人工時呈反向變動，在失業率上升的情況下，彈性工時無法拯救失業率，反而會使得失業率波動幅度上升。

We establish a closed economy model composed of households, intermediate goods firms, perfect competitive final goods firms and the government. This paper analyzes whether flexible working hours amplifies unemployment fluctuations when unemployment increases on the basis of Kolasa, Rubaszek and Walerych (2021) model. Different from their model, we consider the interaction between the hiring frictions and the price rigidities. Finally, after an expansionary monetary shock and an adverse neutral technology shock happening, we find that there is a trade-off between employment and working hours. The impulse responses of employment and working hours move in the opposite direction. When we discuss the model with hiring frictions and calibrate it by using the US data, we find that an increase in flexibility of working time amplifies unemployment fluctuations when unemployment increases. The result means that flexible working hours can not save jobs during recession.

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