Job Displacement Risk and the Cost of Business Cycles

This paper analyzes the welfare costs of business cycles when workers face uninsurable job displacement risk. The paper uses a simple macroeconomic model with incomplete markets to show that cyclical variations in the long-term earnings losses of displaced workers can generate arbitrarily large cost...

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Bibliographic details
Volume: 97
Main Author: Tom Krebs
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: NASHVILLE American Economic Association 01.06.2007
AMER ECONOMIC ASSOC
published in: The American economic review Vol. 97; no. 3; pp. 664 - 686
Data of publication: 20070601
ISSN: 0002-8282
1944-7981
EISSN: 1944-7981
Discipline: Economics
Law
Subjects:
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2007
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