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Asset Accumulation and Short Term Employment

  • Martin Browning

    (University of Copenhagen)

  • Thomas F. Crossley

    (McMaster University)

  • Eric F. Smith

    (University of Essex)

If access to credit is limited (especially when young or unemployed) but "bad" jobs are easy to come by, then job seekers might use short term employment in undesirable jobs as a way to finance consumption during subsequent unemployed search for a "good" job. In this paper we explore this idea by building a theoretical model of job search by risk averse, debt constrained agents. In this model we characterize analytically conditions under which voluntary planned separations occur as agents cycle between accumulating assets in short term employment and unemployed search for more desirable employment. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/j.red.2006.12.002
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 10 (2007)
Issue (Month): 3 (July)
Pages: 400-423

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Handle: RePEc:red:issued:05-38
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  17. Stancanelli, E.G.F., 1997. "Do the rich stay unemployed longer? An empirical study for the U.K," Discussion Paper 97.81, Tilburg University, Center for Economic Research.
  18. Blau, David M & Robins, Philip K, 1990. "Job Search Outcomes for the Employed and Unemployed," Journal of Political Economy, University of Chicago Press, vol. 98(3), pages 637-55, June.
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