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Work Schedules, Wages and Employment in a General Equilibrium Model with Team Production

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  • Terry J. Fitzgerald

    (Research Department, Federal Reserve Bank of Cleveland)

Abstract

This paper provides a prototype general equilibrium model of team production. Team production refers to production processes which require that the work schedules of heterogeneous workers be closely coordinated. The key innovation in the framework is that the work schedules, wages, and employment of heterogeneous workers are endogenously determined in the presence of team production. I demonstrate the potential importance of modeling team production through a quantitative example. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1006/redy.1998.0026
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 1 (1998)
Issue (Month): 4 (October)
Pages: 809-834

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Handle: RePEc:red:issued:v:1:y:1998:i:4:p:809-830

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  1. Dickens, William T & Lundberg, Shelly J, 1993. "Hours Restrictions and Labor Supply," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 169-92, February.
  2. Shell, Karl & Wright, Randall, 1993. "Indivisibilities, Lotteries, and Sunspot Equilibria," Economic Theory, Springer, Springer, vol. 3(1), pages 1-17, January.
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  6. Weiss, Yoram, 1996. "Synchronization of Work Schedules," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(1), pages 157-79, February.
  7. Harold L. Cole & Edward C. Prescott, 1996. "Valuation equilibria with clubs," Staff Report, Federal Reserve Bank of Minneapolis 174, Federal Reserve Bank of Minneapolis.
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  9. Shulamit Kahn & Kevin Lang, 1988. "The Effects of Hours Constraints on Labor Supply Estimates," NBER Working Papers 2647, National Bureau of Economic Research, Inc.
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  16. Per Krusell & Lee E. Ohanian & Jose-Victor Rios-Rull & Giovanni L. Violante, 1997. "Capital-skill complementarity and inequality: a macroeconomic analysis," Staff Report, Federal Reserve Bank of Minneapolis 239, Federal Reserve Bank of Minneapolis.
  17. Altonji, Joseph G & Paxson, Christina H, 1988. "Labor Supply Preferences, Hours Constraints, and Hours-Wage Trade-Offs," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 6(2), pages 254-76, April.
  18. Cho, Jang-Ok, 1995. "Ex post heterogeneity and the business cycle," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 19(3), pages 533-551, April.
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Citations

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Cited by:
  1. Terry J. Fitzgerald, 1998. "Reducing working hours: a general equilibrium analysis," Working Paper, Federal Reserve Bank of Cleveland 9801, Federal Reserve Bank of Cleveland.
  2. Victoria Osuna Padilla & José-Víctor Ríos-Rull, 2002. "Implementing the 35 Hour Workweek by Means of Overtime Taxation," Economic Working Papers at Centro de Estudios Andaluces, Centro de Estudios Andaluces E2002/04, Centro de Estudios Andaluces.
  3. Edward C. Prescott, 2003. "Non-Convexities in Quantitative General Equilibrium Studies of Business Cycles," Levine's Working Paper Archive 506439000000000372, David K. Levine.
  4. Richard Rogerson, 2006. "Understanding Differences in Hours Worked," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(3), pages 365-409, July.
  5. Prescott, Edward & Shell, Karl, 2002. "Introduction to Sunspots and Lotteries," Working Papers, Cornell University, Center for Analytic Economics 02-08, Cornell University, Center for Analytic Economics.
  6. Antonio García Sánchez & María del Mar Vázquez Méndez, 2005. "The timing of work in a general equilibrium model with shiftwork," Investigaciones Economicas, Fundación SEPI, Fundación SEPI, vol. 29(1), pages 149-179, January.
  7. Díaz, Antonia & Echevarria, Cristina, 2009. "Why a fixed workweek?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 38(5), pages 790-798, October.
  8. Martial Dupaigne, 2007. "Les variations choisies de l'utilisation du capital : une revue des implications macroéconomiques," Revue d'économie politique, Dalloz, Dalloz, vol. 0(2), pages 161-196.

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