Seminario: “Job Search, Risk Aversion, and Consumption Commitments”
Why is it that the unemployed in the U.S. spend more time looking for work even though all odds are against them? I address the role of risk aversion in shaping the their job search behavior over the business cycle. Theoretically, workers who particularly dislike states of low consumption may increase their search intensity even during recessions. But not in the U.S.: We would need to think of the unemployed as extremely risk averse over consumption changes. I next explore the scope of consumption commitments in accounting for this apparently strange risk attitude. Empirically, this scope seems to be rather limited.
Datos del Evento
04 de Enero, 2017 | 13:00 hrs.
Fecha de término
04 de Enero, 2017 | 14:00 hrs.