Imperfections in risk and capital markets imply that individuals who lose jobs suffer from imperfect smoothing of consumption across states and times. Compared to the first best, there will be too little search. Optimal unemployment programs, which balance the marginal benefit of consumption...

"Human Resource Management , 17th edition, provides students in human resource management courses and practicing managers with a full and practical introduction to the latest human resource management concepts and techniques in a highly readable and understandable form. As this new edition goes...