Search in the Labor Market Under Imperfectly Insurable Income Risk.
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 incompletene...
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| Main Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2009.
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| Series: | IMF Working Papers.
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| Subjects: | |
| Online Access: |
Full text (Emmanuel users only) |