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Lindbeck, Assar; Persson, Mats - 2010

In this paper we treat an individual's health as a continuous variable, in contrast to the traditional literature on income insurance, where it is regularly treated as a binary variable. This is not a minor technical matter; in fact, a continuous treatment of an individual's health sheds new...

Persistent link: https://www.econbiz.de/10010270506

A model of income insurance and social norms

Lindbeck, Assar; Persson, Mats - 2006

A large literature on ex ante moral hazard in income insurance emphasizes that the individual can affect the probability of an income loss by choice of lifestyle and hence, the degree of risk-taking. The much smaller literature on moral hazard ex post mainly analyzes how a ?moral hazard...

Persistent link: https://www.econbiz.de/10010261422

The Real U.S. Unemployment Rate is Twice the Official Rate, and the Phillips Curve

Komlos, John - 2019

The official unemployment rate has become an inadequate measure of labor market conditions. This poses a major … unemployment rate by weighing part-time workers with 62.5%, the proportion of the time they work relative to full-time workers. We … provide new monthly estimates of the unemployment rate for the period 1994-2019 and find that their average during this 25 …

Persistent link: https://www.econbiz.de/10012861417

The Actual U.S. Unemployment Rate Was 24.4% in May 2020

Komlos, John - 2020

The official U.S. unemployment rate is an inadequate measure of actual labor market conditions. This poses a major … challenge for researchers and confuses both the public and policy makers. A new definition of unemployment is proposed. It … unemployed. We find that the actual unemployment rate in May 2020 was 24.4% or 183% of the headline rate of 13.3% …

Persistent link: https://www.econbiz.de/10012830104