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The Welfare Effects of Mobility Restrictions

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  • Byeongju Jeong

    (CERGE-EI)

Abstract

Mobility restrictions (e.g., severance payment, life-long tenure, and divorce ban) are widely observed. I present a partnership model that highlights the 'break-up externality' (i.e., the negative effect of a person's break-up decision on his current partner). Under this externality, there is too much searching for new partners and too much breaking-up of existing partnerships. Restrictions such as a break-up payment and break-up ban can reduce the levels of searching and breaking-up and improve welfare. Thus the paper rationalizes mobility restrictions as welfare-improving arrangements. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/S1094-2025(03)00015-2
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Bibliographic Info

Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 6 (2003)
Issue (Month): 3 (July)
Pages: 685-696

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Handle: RePEc:red:issued:v:6:y:2003:i:3:p:685-696

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Related research

Keywords: mobility restriction; partnership; search; break-up;

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References

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  1. S. Rao Aiyagari & Jeremy Greenwood & Nezih Guner, 2000. "On the State of the Union," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 213-244, April.
  2. Burdett, K. & Coles, M. G., 1998. "Separation cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 22(7), pages 1069-1090, May.
  3. Kenneth Burdett & Ryoichi Imai & Randall Wright, 2004. "Unstable Relationships," The B.E. Journal of Macroeconomics, De Gruyter, vol. 0(1), pages 1.
  4. Pissarides, Christopher A, 1984. "Search Intensity, Job Advertising, and Efficiency," Journal of Labor Economics, University of Chicago Press, vol. 2(1), pages 128-43, January.
  5. Kenneth Burdett & Randall Wright, 1994. "Two-sided search," Staff Report 169, Federal Reserve Bank of Minneapolis.
  6. Fernando Alvarez & Marcelo Veracierto, 1999. "Labor market policies in an equilibrium search model," Working Paper Series WP-99-10, Federal Reserve Bank of Chicago.
  7. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-38, October.
  8. Burdett, Kenneth & Coles, Melvyn G, 1999. "Long-Term Partnership Formation: Marriage and Employment," Economic Journal, Royal Economic Society, vol. 109(456), pages F307-34, June.
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Cited by:
  1. Jakub Steiner, 2006. "Coordination in a Mobile World," CERGE-EI Working Papers wp295, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  2. Herman Z. Bennett, 2007. "Labor's Liquidity Service and Firing Costs," IMF Working Papers 07/120, International Monetary Fund.
  3. Jakub Steiner, 2006. "Coordination of Mobile Labor," ESE Discussion Papers 152, Edinburgh School of Economics, University of Edinburgh.

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