Krebs, Tom; Scheffel, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
We develop a tractable macroeconomic model with employment risk and labor market search in order evaluate the effects of labor market reform on unemployment, growth, and welfare. The model has a large number of risk-averse households who can invest in risk-free physical capital and risky human...
