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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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Publisher copy:
10.1016/j.jeconom.2008.05.005

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Journal:
Journal of Econometrics
Volume:
145
Issue:
1-2
Publication date:
2008-07-05
DOI:
URN:
uuid:99e5417e-ef56-4d29-b44f-349d80cc7e9e
Local pid:
oai:economics.ouls.ox.ac.uk:14765
Language:
English

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