Farina, Francesco; Fontini, Fulvio - Dipartimento di Politica Economica, Finanza e Sviluppo … - 2009
We set a model in which a population of individuals is segmented in the labour market into two groups: high-skill workers and low-skill ones. Risk exposure consists of a macroeconomic employment risk for which the two groups have diverging probabilities. We investigate how risk affects...