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

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Keywords

Keywords

Social security payment , Severance payment , Informal sector , Hidden search effort , Savings

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6120
 https://hdl.handle.net/20.500.12134/6120
 https://ideas.repec.org/p/bdr/borrec/833.html
 https://doi.org/10.32468/be.833

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