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Savings and Labor-Market Transitions

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Author Info
Blundell, Richard
Magnac, Thierry
Meghir, Costas

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Abstract

A model is developed that allows for a lay-off rate and a job arrival rate in the intertemporal choice of consumption and labor market state. The identification of such a model is established without recourse to dynamic programming solutions and the minimum date requirements for estimation are derived. Unobserved heterogeneity is included in the model specification but state dependence is only allowed through the lay-off and arrival rates which are restricted to be functions of observable weakly exogenous variables.

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Publisher Info
Article provided by American Statistical Association in its journal Journal of Business and Economic Statistics.

Volume (Year): 15 (1997)
Issue (Month): 2 (April)
Pages: 153-64
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Handle: RePEc:bes:jnlbes:v:15:y:1997:i:2:p:153-64

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  1. Hans G. Bloemen, 2006. "The Impact of Wealth on Job Exit Rates of Elderly Workers," IZA Discussion Papers 2247, Institute for the Study of Labor (IZA). [Downloadable!]
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  2. Hans Bloemen, 2008. "Private Wealth and Job Exit at Older Age: a Random Effects Model," Tinbergen Institute Discussion Papers 08-025/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  3. Bloemen, H.G. & Stancanelli, E.G.F., 1997. "Individual wealth, reservation wages and transitions into employment," Discussion Paper 2, Tilburg University, Center for Economic Research. [Downloadable!]
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  4. Harounan Kazianga & Christopher Udry, 2004. "Consumption Smoothing? Livestock, Insurance and Drought in Rural Burkina Faso," Working Papers 898, Economic Growth Center, Yale University. [Downloadable!]
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  5. Hans G. Bloemen & Elena G. F. Stancanelli, 2003. "Financial Wealth, Consumption Smoothing, and Income Shocks due to Job Loss," Documents de Travail de l'OFCE 2003-09, Observatoire Francais des Conjonctures Economiques (OFCE). [Downloadable!]
    Other versions:
  6. Hans G. Bloemen, 2002. "The relation between wealth and labour market transitions: an empirical study for the Netherlands," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(3), pages 249-268. [Downloadable!]
    Other versions:
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