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The Long-Run Cost of Job Loss as Measured by Consumption Changes.

Abstract:

We consider the measurement of the cost of job displacement. With a Canadian panel survey we compare the consumption growth of households that experienced a permanent layoff to a control group of households that experienced a temporary layoff with known recall date. Because the firms employing the latter group are providing insurance, these workers approximate a benchmark of full insurance against job loss shocks. We estimate that permanent layoffs experience an average consumption loss of be...

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Volume:
152
Series:
Research Papers
Publication date:
2006-06-05
URN:
uuid:29ce2dd4-3d0f-44bf-8255-0828254fde41
Local pid:
oai:economics.ouls.ox.ac.uk:12699
Language:
English

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