from worker self-selection may not be matched by a corresponding social gain. In particular, the equilibrium incentive to …

size of stock adjustment decisions, and find broad support for theoretical predictions in formal selection …

This Paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks … cases of self-insurance and the complete markets assumption. We assess the degree of insurance over and above self-insurance … conventional demand analysis rather than reduced form imputation procedures. Our results point to some partial insurance but reject …

The full insurance hypothesis states that shocks to the firm's performance do not affect workers' compensation. In … principal-agent models with moral hazard, firms trade off insurance and incentives to induce workers to supply the optimal level … overall earnings variability, the remainder originating in idiosyncratic shocks. Finally, we show that the amount of insurance …

We analyse the efficiency of the labour market outcome in a competitive search equilibrium model with endogenous …