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Working Time and Employment Under Uncertainty

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Author Info
Yu-Fu Chen (Dept of Economic Studies, University of Dundee, UK)
Michael Funke (University of Hamburg, Germany)

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Abstract

The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we consider the impact of uncertainty and real options on the decision of working time and examine the determinants of employment and hours in a stochastic framework. A number of simulation exercises to illustrate the workings of the model are also undertaken.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Studies in Nonlinear Dynamics & Econometrics.

Volume (Year): 8 (2004)
Issue (Month): 3 ()
Pages: 1150-1150
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Handle: RePEc:bep:sndecm:8:2004:3:1150-1150

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Related research
Keywords: Real Options Uncertainty Working Time Employment Labor Demand

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Bauer, Thomas & Zimmermann, Klaus F., 1999. "Overtime Work and Overtime Compensation in Germany," IZA Discussion Papers 48, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Bertola, Giuseppe, 1990. "Job security, employment and wages," European Economic Review, Elsevier, vol. 34(4), pages 851-879, June. [Downloadable!] (restricted)
  3. G Houpis, 1993. "The Effect of Lower Hours of Work on Wages and Employment," CEP Discussion Papers 0131, Centre for Economic Performance, LSE.
  4. Una-Louise Bell, 1996. "Adjustment Costs, Uncertainty and Employment Inertia," Banco de España Working Papers 9620, Banco de España.
  5. Una-Louise Bell, 1996. "Adjustment Costs, Uncertainty and Employment Inertia," Banco de España Working Papers 9620, Banco de España.
  6. Chen, Yu-Fu & Zoega, Gylfi, 1999. "On the effectiveness of firing costs1," Labour Economics, Elsevier, vol. 6(3), pages 335-354, September. [Downloadable!] (restricted)
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  7. Pissarides, Christopher A., 1998. "The impact of employment tax cuts on unemployment and wages; The role of unemployment benefits and tax structure," European Economic Review, Elsevier, vol. 42(1), pages 155-183, January. [Downloadable!] (restricted)
    Other versions:
  8. Giuseppe Nicoletti & Stefano Scarpetta & Olivier Boylaud, 2000. "Summary Indicators of Product Market Regulation with an Extension to Employment Protection Legislation," OECD Economics Department Working Papers 226, OECD Economics Department. [Downloadable!]
  9. Bentolila, Samuel & Bertola, Giuseppe, 1990. "Firing Costs and Labour Demand: How Bad Is Eurosclerosis?," Review of Economic Studies, Blackwell Publishing, vol. 57(3), pages 381-402, July. [Downloadable!] (restricted)
  10. Trejo, Stephen J, 1993. "Overtime Pay, Overtime Hours, and Labor Unions," Journal of Labor Economics, University of Chicago Press, vol. 11(2), pages 253-78, April. [Downloadable!] (restricted)
  11. Alison L. Booth & Yu-Fu Chen & Gylfi Zoega, 2002. "Hiring and Firing: A Tale of Two Thresholds," Journal of Labor Economics, University of Chicago Press, vol. 20(2), pages 217-248, Part. [Downloadable!]
  12. Calmfors, Lars & Hoel, Michael, 1989. "Work Sharing, Employment and Shiftwork," Oxford Economic Papers, Oxford University Press, vol. 41(4), pages 758-73, October. [Downloadable!] (restricted)
  13. Per Krusell & Lee E. Ohanian & JosÈ-Victor RÌos-Rull & Giovanni L. Violante, 2000. "Capital-Skill Complementarity and Inequality: A Macroeconomic Analysis," Econometrica, Econometric Society, vol. 68(5), pages 1029-1054, September.
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  14. Calmfors, Lars & Hoel, Michael, 1988. " Work Sharing and Overtime," Scandinavian Journal of Economics, Blackwell Publishing, vol. 90(1), pages 45-62.
  15. Felix FitzRoy & Michael Funke & Michael Nolan, 1999. "Working Time, Taxation and Unemployment," Discussion Paper Series, Department of Economics 9901, Department of Economics, University of St. Andrews.
  16. Abel, Andrew B & Eberly, Janice C, 1994. "A Unified Model of Investment under Uncertainty," American Economic Review, American Economic Association, vol. 84(5), pages 1369-84, December. [Downloadable!] (restricted)
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  17. Caballero, Ricardo J, 1991. "On the Sign of the Investment-Uncertainty Relationship," American Economic Review, American Economic Association, vol. 81(1), pages 279-88, March. [Downloadable!] (restricted)
  18. Marimon, Ramon & Zilibotti, Fabrizio, 2000. "Employment and distributional effects of restricting working time," European Economic Review, Elsevier, vol. 44(7), pages 1291-1326, June. [Downloadable!] (restricted)
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Yu-Fu Chen & Michael Funke, 2007. "Threshold Effects of Dismissal Protection Regulation and the Emergence of Temporary Work Agencies," Discussion Papers 207, University of Dundee, Economic Studies. [Downloadable!]
  2. Yu-Fu Chen & Michael Funke, 2006. "Threshold Effects of Dismissal Protection Regulations and Employment Dynamics," Discussion Papers 195, University of Dundee, Economic Studies. [Downloadable!]
  3. Yu-Fu Chen & Michael Funke, 2005. "Product Market Competition, Investment and Employment-Abundant versus Job-Poor Growth: A Real Options Perspective," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  4. Regt,Erik R.,de, 2005. "Overtime and Short-time with Fluctuating Absenteeism and Demand," Research Memoranda 026, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
  5. Yu-Fu Chen & Michael Funke, 2008. "China's New Labour Contract Law:No Harm to Employment?," Discussion Papers 220, University of Dundee, Economic Studies. [Downloadable!]
  6. Yu-Fu Chen & Michael Funke, 2005. "Non-Wage Labour Costs, Policy Uncertainty and Labour Demand - a Theoretical Assessment," Quantitative Macroeconomics Working Papers 20511, Hamburg University, Department of Economics. [Downloadable!]
    Other versions:
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