analysis focuses on the interaction between contractual arrangements for shifting risk from workers to employers and tax …-financed unemployment insurance. The key element in the analysis is that unemployment insurance is more attractive than risk shifting as a … way for workers to obtain income during unemployment. The paper also analyses the effects of risk shifting and …

This paper documents two COVID-related risks, viral risk and employment risk, and their distributions across the … Canadian population. The measurement of viral risk is based on the VSE COVID Risk/Reward Assessment Tool, created to assist … women are more concentrated in high viral risk occupations and that this is the source of their greater employment loss over …

frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are … variability due to shocks from variability due to the responses to these shocks. Estimates of productivity risk, once we control … for employment risk and for individual labour supply choices, are substantially lower than estimates that attribute all …

usual relationship between risk and consumption. In particular, we present a model where the presence of plausible … adjustment costs can cause a mean-preserving increase in unemployment risk to lead to increased consumption. The predictions of … risk as their unemployment shocks are more highly correlated. Such couples spend more on owner-occupied housing than other …

In this paper we test for the existence of compensating differentials for unemployment risk in an era before …

We propose a new business cycle theory. Firms need to randomize over firing or keeping workers who have performed …