In this paper we investigate experimentally the functioning of a wage tax financed unemployment benefit system on the … development of the budget deficit, unemployment, and some other indicators of economic performance in an international economy. We … uncertainty about prices risk-averse producers are hypothesized to be reluctant to employ inputs with the additional effect of too …

I analyze an overlapping generations model with old age productivity risk where wages, employment and severance … payments are set through efficient bargaining between risk averse unions and risk neutral firms. Equilibrium allocations with … age unemployment. Public transfers to early retirees may produce efficiency gains even if they have a negative effect on …