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Épargne de précaution et chômage : une évaluation quantitative de l'auto-assurance

Author

Listed:
  • Yann Algan

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

  • Arnaud Chéron

    (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université)

  • Jean-Olivier Hairault

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • François Langot

    (IZA - Institute for the Study of Labor)

Abstract

The potential welfare benefits of precautionary saving is studied using a quantitative dynamic general equilibrium model. To provide a role for precautionary saving, agents face exogeneous idiosyncratic employment shocks and are unable to borrow or insure themselves through private markets. It appears that precautionary saving allows to decrease the cost of labor market uncertainty to a level comparable with the observed unemployment insurance. However, taking into account the transitory path on which households must provide a huge effort of savings alters this conclusion. A rawlsian criterion leads to be more skeptical about the precautionary saving too.

Suggested Citation

  • Yann Algan & Arnaud Chéron & Jean-Olivier Hairault & François Langot, 2004. "Épargne de précaution et chômage : une évaluation quantitative de l'auto-assurance," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01038116, HAL.
    • Handle: RePEc:hal:cesptp:hal-01038116
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01038116
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    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • D30 - Microeconomics - - Distribution - - - General

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