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Job displacement risk and severance pay
Cozzi, Marco; Fella, Giulio - 2015
the absence of persistent earning losses, we find that the welfare gains from the insurance against job displacement …
Persistent link: https://www.econbiz.de/10010468319
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Job displacement risk and severance pay
Cozzi, Marco; Fella, Giulio - 2016
persistent earning losses, we find that the welfare gains from the insurance against job displacement afforded by severance pay …
Persistent link: https://www.econbiz.de/10011458292
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Higher education funding, welfare and inequality in equilibrium
Mellior, Gustavo - 2020 - This draft: October 20, 2020
on welfare (on aggregate and at the individual level) and wealth inequality. A heterogeneous agent model in continuous … we see that there can be large gains in welfare and significant drops in inequality by moving to a system with more … student loans become excessive. While I identify large steady state welfare gains from more public sector financing, I show …
Persistent link: https://www.econbiz.de/10012308010
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Job displacement risk and severance pay
Cozzi, Marco; Fella, Giulio - 2016
Persistent link: https://www.econbiz.de/10011447112
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Job displacement risk and severance pay
Cozzi, Marco; Fella, Giulio - 2016
Persistent link: https://www.econbiz.de/10012171822
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Job displacement risk and severance pay
Cozzi, Marco; Fella, Giulio - In: Journal of monetary economics 84 (2016), pp. 166-181
Persistent link: https://www.econbiz.de/10011709670
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Asset returns in an endogenous growth model with incomplete markets
Krebs, Tom; Wilson, Bonnie - 2002
This paper analyzes a class of stochastic endogenous growth models with uninsurable idiosyncratic income risk. The model economy is populated by infinitely-lived households who own and operate their own business, work for a stock company, and participate in stock and bond markets. Households...
Persistent link: https://www.econbiz.de/10010318914
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Precautionary savings and wealth inequality: A global sensitivity analysis
Cozzi, Marco - 2011
This paper applies Canova JAE 1994 methodology to perform a thorough sensitivity analysis for the Aiyagari QJE 1994 economy. This is a calibrated GE model with incomplete markets and uninsurable income risk, designed to quantify the size of precautionary savings and the degree of wealth...
Persistent link: https://www.econbiz.de/10010290327
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Optimal unemployment insurance in GE: A robust calibration approach
Cozzi, Marco - 2011
' configurations, the welfare maximizing replacement rate does not decrease with the level of MH. The qualitative patterns and … bundle, and the intertemporal elasticity of substitution have a first order impact on the average welfare. The determination …
Persistent link: https://www.econbiz.de/10010290350
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Incomplete-Market Equilibria Solved Recursively on anEvent Tree
Dumas, Bernard; Lyasoff, Andrew - National Centre of Competence in ResearchFinancial … - 2008
We develop a method that allows one to compute incomplete-market equilibria routinely forMarkovian equilibria (when they exist). The main difficulty to be overcome arises from the setof state variables. There are, of course, exogenous state variables driving the economy but, in anincomplete...
Persistent link: https://www.econbiz.de/10005868691