This paper explores the problem of non-convex labor supply decisions in an economy with both private and public sector jobs. In contrast to Vasilev (2015a), the sectoral labor choice is made in a sequential manner. Still, the micro-founded representation obtained from explicit aggregation over...

This note explores the problem of non-convex labor supply decision in an economy with both discrete and continuous labor decisions. In contrast to the setup in Mc-Grattan, Rogerson and Wright (1997), here each household faces an indivisible labor supply choice in the market sector, while it can...

This paper studies the wasteful effect of bureaucracy on the economy by addressing the link between opportunistic behavior of government bureaucrats and the public sector wage bill. In particular, public officials are modeled as individuals competing for a larger share of those public funds. A...

This paper aims to shed light on the importance of health considerations for business cycle fluctuations and the effect of health status on labor productivity and availability of labor input for productive use. To this end, Grossman's (2000) partial-equilibrium framework with endogenous health...

The integration of technology in the educational process is becoming increasingly important for improving the 21st century student’s understanding and retention of academic material. Being able to readily apply the theory covered in class and to automatically receive immediate feedback is...

This paper explores the problem of non-convex labor supply decisions in an economy with both private and public sector jobs. To this end, Hansen (1985) and Rogerson's (1988) indivisible-hours framework is extended to an environment featuring a double discrete labor choice. The novelty of the...

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...

This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board arrangement in 1997, the period of macroeconomic stability that ensued, the EU accession, and the episode of the recent global financial crisis. This paper follows Chari et al....

Computer simulators are proving to be indispensable education tools as they enable their users to readily apply theoretical knowledge and to automatically receive immediate feedback, which is invaluable both to learners and to their instructors. Yet at present, there is virtually no publicly...

This note explores the problem of family labor supply decision in an economy with two-member households, joint home production, and fixed cost of joint labor supply. Even though the labor supply decisions are not indivisible per se, the presence of such fixed cost and partners with unequal labor...