English, Article, Journal or magazine article edition: Exchange rate uncertainty and labour market adjustment under fixed and flexible exchange rates Yu-Fu Chen; Michael Funke

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Bookmark: http://trove.nla.gov.au/version/34150
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Exchange Rate Uncertainty and Labour Market Adjustment under Fixed and Flexible Exchange Rates
Author
  • Yu-Fu Chen
  • Michael Funke
Physical Description
  • preprint
Notes
  • RePEc:mmf:mmfc03:33
  • 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 follow the real options approach, which allows us to investigate the value of a firm of waiting to adjust labour when the firm´s revenues in domestic currency are stochastic and adjustment costs are sunk. The simulations reject the null hypothesis that all exchange rate regimes obey common emploment adjustment thresholds.
  • Real Option Theory, Uncertainty, Working Time, Employment, Labour Demand, Exchange Rates
  • RePEc:ham:qmwops:20202
Language
  • English
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