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Asset Accumulation and Short-Term Employment.

Abstract:

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 cyc...

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Journal:
Review of Economic Dynamics
Volume:
10
Publication date:
2007-01-01
URN:
uuid:56d21eec-68a4-4c84-ab0e-d87724fb2b08
Local pid:
oai:economics.ouls.ox.ac.uk:12851
Language:
English

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