Search in the Labor Market Under Imperfectly Insurable Income Risk:
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Internformat
MARC
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| 490 | 0 | |a IMF Working Papers |v Working Paper No. 09/188 | |
| 520 | 3 | |a This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model calibrated to the U.S. shows that market incompleteness affects individual behavior and aggregate conditions: it reduces wages and unemployment but increases vacancies. Additionally, the model explains the average level of unemployment insurance observed in the U.S. A key mechanism is the joint influence of imperfect insurance and risk aversion in the wage bargaining. The paper also proposes a novel solution to solve this heterogeneous-agent model | |
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| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:17Z |
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| language | English |
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| spellingShingle | Roca, Mauro Search in the Labor Market Under Imperfectly Insurable Income Risk |
| title | Search in the Labor Market Under Imperfectly Insurable Income Risk |
| title_auth | Search in the Labor Market Under Imperfectly Insurable Income Risk |
| title_exact_search | Search in the Labor Market Under Imperfectly Insurable Income Risk |
| title_full | Search in the Labor Market Under Imperfectly Insurable Income Risk Roca, Mauro |
| title_fullStr | Search in the Labor Market Under Imperfectly Insurable Income Risk Roca, Mauro |
| title_full_unstemmed | Search in the Labor Market Under Imperfectly Insurable Income Risk Roca, Mauro |
| title_short | Search in the Labor Market Under Imperfectly Insurable Income Risk |
| title_sort | search in the labor market under imperfectly insurable income risk |
| url | http://elibrary.imf.org/view/IMF001/10405-9781451873351/10405-9781451873351/10405-9781451873351.xml |
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