persistent earning losses, we find that the welfare gains from the insurance against job displacement afforded by severance pay …

the absence of persistent earning losses, we find that the welfare gains from the insurance against job displacement …

welfare effects of these taxes into insurance and distribution effects. This method allows us to determine how the sign of the …

This paper studies the welfare properties of competitive equilibria in an economy with incomplete markets subject to …, while forcing originators to hold additional skin-in-the-game reduces welfare. Both policies reduce leverage and raise …

future exchange rates. We interpret this property as showing that, in general, there is no clear-cut effect on welfare of the …

measure welfare gains from introducing explicit insurance against this risk in the form of guaranteed renewable health … reclassification risk. If these institutions are removed, the average welfare gains from having access to guaranteed renewable …