Asset accumulation and short-term employment

被引：11
|
作者：
Browning, Martin
Crossley, Thomas F.
Smith, Eric [1 ]
机构：
[1] Univ Essex, Dept Econ, Colchester CO4 3SQ, Essex, England
[2] Univ Oxford, Dept Econ, Oxford OX1 3UQ, England
[3] Univ Cambridge, Fac Econ, Cambridge CD3 9DD, England
[4] McMaster Univ, Hamilton, ON L8S 4L8, Canada
来源：
REVIEW OF ECONOMIC DYNAMICS | 2007年 / 10卷 / 03期
基金：
英国经济与社会研究理事会;
关键词：
unemployment; search; consumption; assets;
D O I：
10.1016/j.red.2006.12.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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 characterise 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. (c) 2007 Elsevier Inc. All rights reserved.
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页码：400 / 423
页数：24
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