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Insurance markets Equilibrium with Sequential Non convex Straight time and Over time Labor Supply

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  • Aleksander VASILEV

    (Independent Researcher)

Abstract

This note describes the lottery and insurance market equilibrium in an economy with non convex straight time and overtime employment In contrast to Hansen and Sargent 1988 the overtime decision is a sequential one This requires two separate insurance market to operate one for straight time work and one for overtime In addition given that the labor choice for regular and overtime hours is made in succession the insurance market for overtime needs to open once the 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 sequential nature of the overtime labor decision

Suggested Citation

  • Aleksander VASILEV, 2018. "Insurance markets Equilibrium with Sequential Non convex Straight time and Over time Labor Supply," Journal of Mathematical Economics and Finance, ASERS Publishing, vol. 4(2), pages 7-26.
    • Handle: RePEc:srs:jmef00:v:4:y:2018:i:2:p:7-26
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    References listed on IDEAS

    as
    1. Vasilev, Aleksandar, 2016. "Straight-time and Overtime: A Sequential-Lottery Approach," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 0(1(13)), pages 1-5.
    2. Hansen, Gary D. & Sargent, Thomas J., 1988. "Straight time and overtime in equilibrium," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 281-308.
    3. Rogerson, Richard, 1988. "Indivisible labor, lotteries and equilibrium," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 3-16, January.
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    More about this item

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J4 - Labor and Demographic Economics - - Particular Labor Markets

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