The social consequences of restructuring can largely be understood in terms of the net employment impact and the imapct on government expenditures and revenues. When restructuring entails unemployment, government expenditure can mitigate the financial costs faced by those losing jobs at the...

This paper analyses a model of private unemployment insurance under limited commitment and a model of public unemployment insurance subject to moral hazard in an economy with a continuum of agents and an infinite time horizon. The dynamic and steady-state properties of the private unemployment...

Understanding the role and functions of social policy and social security systems is a key point for a discussion on reforms of the retirement systems. In this essay I describe the subject and range of social policy in the modern welfare state. The work has a descriptive character and aims at...

El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...