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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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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, University of Chicago Press, vol. 108(2), pages 213-244, April.
  2. Fernando Alvarez & Marcelo Veracierto, 1999. "Labor market policies in an equilibrium search model," Working Paper Series, Federal Reserve Bank of Chicago WP-99-10, Federal Reserve Bank of Chicago.
  3. Burdett, Kenneth & Coles, Melvyn G, 1999. "Long-Term Partnership Formation: Marriage and Employment," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 109(456), pages F307-34, June.
  4. Ken Burdett & Randall Wright, 1998. "Two-Sided Search with Nontransferable Utility," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 220-245, January.
  5. Pissarides, Christopher A, 1984. "Search Intensity, Job Advertising, and Efficiency," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 2(1), pages 128-43, January.
  6. Burdett Kenneth & Imai Ryoichi & Wright Randall, 2004. "Unstable Relationships," The B.E. Journal of Macroeconomics, De Gruyter, De Gruyter, vol. 1(1), pages 1-44, January.
  7. Burdett, K. & Coles, M. G., 1998. "Separation cycles," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 22(7), pages 1069-1090, May.
  8. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 101(5), pages 915-38, October.
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Cited by:
  1. Steiner, Jakub, 2008. "Coordination of mobile labor," Journal of Economic Theory, Elsevier, Elsevier, vol. 139(1), pages 25-46, March.
  2. Herman Z. Bennett, 2007. "Labor's Liquidity Service and Firing Costs," IMF Working Papers, International Monetary Fund 07/120, International Monetary Fund.
  3. Jakub Steiner, 2006. "Coordination in a Mobile World," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economic Institute, Prague wp295, The Center for Economic Research and Graduate Education - Economic Institute, Prague.

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