Incomplete unemployment insurance and aggregate fluctuations

被引：2

作者：

Obiols-Homs, F ^{[1
]}

机构：

[1] ITAM, Ctr Invest Econ, Mexico City 10700, DF, Mexico

来源：

REVIEW OF ECONOMIC DYNAMICS | 2003年 / 6卷 / 03期

关键词：

aggregate fluctuations; idiosyncratic shocks; incomplete insurance;

D O I：

10.1016/S1094-2025(03)00005-X

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper develops a real business cycle model characterized by idiosyncratic employment shocks and quantitatively explores the behavior of aggregate variables under the assumptions of complete and incomplete insurance markets. The results show that the model with incomplete markets produces standard deviations and correlations of aggregate labor input and labor productivity close to the ones of the US economy for the post-war period. (C) 2003 Elsevier Science (USA). All rights reserved.

引用

页码：602 / 636

页数：35

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