Uncertainty, Redistribution, and the Labor Market
AbstractUncertainty and its composition can affect the demand for social insurance, and thereby the labor market. This paper shows that small to medium-sized increases in uncertainty or risk aversion are enough to recommend an expansion of the safety net that would be broadly similar to the actual safety net expansions, which significantly depressed the labor market. Labor market effects of uncertainty through investment and insurance channels are also examined with employer and employee labor wedges.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19553.
Date of creation: Oct 2013
Date of revision:
Note: EFG LS
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Find related papers by JEL classification:
- D33 - Microeconomics - - Distribution - - - Factor Income Distribution
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-10-25 (All new papers)
- NEP-IAS-2013-10-25 (Insurance Economics)
- NEP-LAB-2013-10-25 (Labour Economics)
- NEP-MAC-2013-10-25 (Macroeconomics)
- NEP-UPT-2013-10-25 (Utility Models & Prospect Theory)
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