Working time and employment under uncertainty

Yu-Fu Chen, Michael Funke

    Research output: Contribution to journalArticlepeer-review

    8 Citations (Scopus)

    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.
    Original languageEnglish
    JournalStudies in Nonlinear Dynamics and Econometrics
    Volume8
    Issue number3
    Publication statusPublished - 2004

    Keywords

    • Real options
    • Uncertainty
    • Working time
    • Employment
    • Labour demand

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