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insurance (UI) scheme or unemployment individual savings accounts (UISAs). Proponents of the first emphasize its ability to pool …
Persistent link: https://www.econbiz.de/10010205768
A welfare analysis of unemployment insurance (UI) is performed in a general equilibrium job search model. Finitely lived, risk-averse workers smooth consumption over time by accumulating assets, choose search effort when unemployed, and suffer disutility from work. Firms hire workers, purchase...
Persistent link: https://www.econbiz.de/10014222294
We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each is insured, having accounted for public insurance programs....
Persistent link: https://www.econbiz.de/10011210466
In this paper we analyze a mechanism that is particularly relevant to the workings of the Great Recession: we explain how easier home financing and higher homeownership rates increase unemployment rates. To this purpose we build a model of job search with liquid wealth accumulation and...
Persistent link: https://www.econbiz.de/10010222189
The introduction of unemployment insurance savings accounts (UISA) in Chile in October 2002 introduced more …
Persistent link: https://www.econbiz.de/10010222287
When searching for employment, workers consider non-wage job characteristics, such as effort requirements or amenities. We study an environment where unemployed workers search for jobs of different quality in a labor market characterized by directed search. In equilibrium, firms are more likely...
Persistent link: https://www.econbiz.de/10015197832
more savings than to supply additional work in order to insure against the loss of employment …
Persistent link: https://www.econbiz.de/10013320473
unemployment insurance and unemployment assistance. ii) Savings are (not) a monotone increasing function of unemployment insurance …
Persistent link: https://www.econbiz.de/10013321097
In this paper I show how borrowing constraints and job search interact. I fit a dynamic model to data from the National Longitudinal Survey (1979-cohort) and show that borrowing constraints are significant. Agents with more initial assets and more access to credit attain higher wages for several...
Persistent link: https://www.econbiz.de/10014086903
Macroeconomic disasters (wars, pandemics, depressions) are characterized by drastic shifts and increased volatility of the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to expectations of future income and consumption growth rates....
Persistent link: https://www.econbiz.de/10012511037