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We show that workers displaced from their stable jobs during mass-layoffs in 1982 recession in Germany suffered … Jahr 1982 vorherrschenden Rezession in Deutschland ihren Arbeitsplatz verlieren, anhaltende Gehaltsverluste in Höhe von 10 … großzügige deutsche System der Arbeitslosenversicherung lediglich einen kleinen Anteil des gesamten Einkommensverlustes ersetzen …
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Earnings losses from permanent job separations are a serious threat to the financial security of long-tenured workers. Job displacement insurance is presumably designed to offset these losses, but evidence suggests that consumption smoothing among the long-tenured displaced is seriously...
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Severance pay, a fixed-sum payment to workers at job separation, has been the focus of intense policy concern for the last several decades, but much of this concern is unearned. The design of the ideal separation package is outlined and severance pay emerges as a natural component of job...
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Job displacement in the U.S. is a serious threat to the earnings of long-tenured workers, through both (i) unemployment spells and (ii) reduced reemployment wages. Although full insurance requires both unemployment benefits and wage insurance, supply difficulties limit actual-loss insurance, and...
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Unemployment insurance replacement rates world-wide are well below 100 percent, a fact often attributed to search moral hazard concerns. As Blanchard and Tirole (2008) have illustrated, however, neither search nor layoff moral hazard (firing cost) distortions need arise in first-best insurance...
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