haku: @author Atkeson, A. / yhteensä: 3
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| Tekijä: | Atkeson, A. Lucas, R. |
| Otsikko: | Efficiency and equality in a simple model of efficient unemployment insurance |
| Lehti: | Journal of Economic Theory
1995 : JUN, VOL. 66:1, p. 64-88 |
| Asiasana: | ECONOMICS THEORIES RUSSIA |
| Kieli: | eng |
| Tiivistelmä: | This paper describes the efficient allocation of consumption and work effort in an economy in which workers face idiosyncratic employment risk and considerations of moral hazard prevent full insurance. The authors impose a lower bound on the expected discounted utility that can be assigned to any agent from any date onward and show, with this feature added, that the efficient unemployment insurance scheme induces an invariant cross-sectional distribution of individual entitlements to utility. |
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