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Insurance-markets Equilibrium with Sequential Non-convex Private- and Public-Sector Labor Supply

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  • Vasilev, Aleksandar

Abstract

This paper describes the lottery- and insurance-market equilibrium in an economy with non-convex private- and public-sector employment. In contrast to Vasilev (2015a, 2015b), the public-sector labor supply decision is a sequential one. This requires two separate insurance market to operate, one for private-sector work, and one for public- sector employment. In addition, given that the labor choice for private- and public- sector hours is made in succession, the insurance market for public employment needs to open once the other insurance market has closed. This segmentation and sequentiality of insurance markets operation is a new result in the literature and a direct consequence of the double non-convexity, and the sequential nature of the sectoral labor supply decision.

Suggested Citation

  • Vasilev, Aleksandar, 2017. "Insurance-markets Equilibrium with Sequential Non-convex Private- and Public-Sector Labor Supply," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics.
  • Handle: RePEc:zbw:espost:149657
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    References listed on IDEAS

    as
    1. Aleksandar Vasilev, 2015. "Insurance-Markets Equilibrium with Double Indivisible Labor Supply," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 9(2), pages 091-103, December.
    2. Aleksandar Vasilev, 2016. "Aggregation with a double non-convex labor supply decision: indivisible private- and public-sector hours," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 47.
    3. Vasilev, Aleksandar, 2016. "Straight-time and Overtime: A Sequential-Lottery Approach," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics, pages 1-5.
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    Cited by:

    1. Vasilev, Aleksandar, 2018. "Indeterminacy and multiplicity of equilibria in a two-sector economy with a public-sector production," EconStor Preprints 184666, ZBW - Leibniz Information Centre for Economics.
    2. repec:zbw:espost:172329 is not listed on IDEAS
    3. Vasilev, Aleksandar, 2017. "Insurance-markets Equilibrium with Sequential Non-convex Market-Sector- and Divisible Informal-Sector Labor Supply," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics.

    More about this item

    Keywords

    indivisible labor; public employment; sequential lotteries; insurance;

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets

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