education, and stagnating income returns to human capital. This paper emphasizes conditional employment risks diversification as … re-employment probability, in addition to higher income for the better educated. Numerical solutions for optimal dynamic … investment in human capital are consistent with observed patterns, such as unemployment duration dependence (stigma), post-re-employment …

employment turnover and high insurance can co-exist with an American-type steady-state with low unemployment, high employment …

workers are (i.e. the more their wages rise with employment duration), the more effective will unemployment vouchers be … to all low-wage earners regardless of their employment history and are of limitless duration. Our analysis indicates that …

reference group. In a novel experiment, I vary whether or not members of a reference group obtain relative performance …