Optimal policy with informal sector and endogenous savings
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Borradores de Economía; No. 833
Date published
2014-07-23
Date
2014-07-23
Authors
Flórez, Luz Adriana
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Document language
spa
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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.
The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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
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JEL Codes
J64 - Unemployment: Models, Duration, Incidence, and Job Search
D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
J32 - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
J65 - Unemployment Insurance; Severance Pay; Plant Closings
D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
J32 - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
J65 - Unemployment Insurance; Severance Pay; Plant Closings
Temática
Keywords
Pago de seguridad social, Esfuerzo de búsqueda oculto, Ahorros, Indemnización, Sector informal
Keywords
Social security payment, Severance payment, Informal sector, Hidden search effort, Savings
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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.
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