Incomplete Unemployment Insurance and Aggregate Fluctuations

This paper develops a real business cycle model characterized by idiosyncratic employment shocks and quantitatively explores the behavior of aggregate variables under the assumptions of complete and incomplete insurance markets. The results show that the model with incomplete markets produces standard deviations and correlations of aggregate labor input and labor productivity close to the ones of the US economy for the post-war period. (Copyright: Elsevier)

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Year of publication:	2003
Authors:	Obiols-Homs, Francesc
Published in:	Review of Economic Dynamics. - Society for Economic Dynamics - SED. - Vol. 6.2003, 3, p. 602-636
Publisher:	Society for Economic Dynamics - SED
Subject:	aggregate fluctuations \| Idiosyncratic shocks \| Incomplete insurance

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published
Other identifiers:	10.1016/S1094-2025(03)00005-X [DOI]
Classification:	E32 - Business Fluctuations; Cycles ; E37 - Forecasting and Simulation ; J22 - Time Allocation and Labor Supply
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004970378