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Working Time and Employment Under Uncertainty

  • Chen Yu-Fu

    ()

    (Dept of Economic Studies, University of Dundee, UK)

  • Funke Michael

    ()

    (University of Hamburg, Germany)

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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Article provided by De Gruyter in its journal Studies in Nonlinear Dynamics & Econometrics.

Volume (Year): 8 (2004)
Issue (Month): 3 (September)
Pages: 1-23

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Handle: RePEc:bpj:sndecm:v:8:y:2004:i:3:n:5
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