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

Vasilev, Aleksandar (2016) Insurance-markets Equilibrium with Sequential Non-convex Private and Public-Sector Labor Supply. Journal of Mathematical Economics and Finance, 2 (2(3)). pp. 19-35. ISSN 2458-0813

Documents
Insurance-markets Equilibrium with Sequential Non-convex Private and Public-Sector Labor Supply
[img]
[Download]
[img] PDF
Vasilev_JMEF_2017.pdf - Whole Document

666kB
Item Type:Article
Item Status:Live Archive

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 2017, 2015, 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.

Keywords:Indivisible labor, public employment, sequential lotteries, insurance
Subjects:L Social studies > L120 Microeconomics
L Social studies > L130 Macroeconomics
Divisions:Lincoln International Business School
ID Code:35515
Deposited On:08 Apr 2019 12:53

Repository Staff Only: item control page