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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| Format: | Zeitschrift |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund,
2009.
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| Schriftenreihe: | IMF Working Papers; Working Paper ;
No. 2009/188 |
| Online Zugang: | Full text available on IMF |