Optimal policy with informal sector and endogenous savings

Thumbnail
Borradores de Economía; No. 833
Date published
2014-07-23
Date of last update
2014-07-23
Author
Flórez, Luz Adriana
Document language
spa
Metadata
Show full item record
Metrics
Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
This paper analyzes the effect of social security and lump sum layoff payment in an economy with an informal sector and savings, where the search effort is unobserved. I characterize the optimal consumption/search/non-participant strategy assuming that wo
JEL Codes
J64 - Unemployment: Models, Duration, Incidence, and Job SearchD91 - Intertemporal Consumer Choice; Life Cycle Models and SavingJ32 - Nonwage Labor Costs and Benefits; Retirement Plans; Private PensionsJ65 - Unemployment Insurance; Severance Pay; Plant Closings
Keywords
Social security payment ; Severance payment ; Informal sector ; Hidden search effort ; Savings ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6120
https://hdl.handle.net/20.500.12134/6120
https://doi.org/10.32468/be.833
https://ideas.repec.org/p/bdr/borrec/833.html
https://ideas.repec.org/p/col/000094/011960.html
Collections
This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit