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Replication data for: Aggregate and Idiosyncratic Risk in a Frictional Labor Market

Version
V0
Resource Type
Dataset
Creator
  • Rudanko, Leena
Publication Date
2011-10-01
Description
  • Abstract

    This paper develops a tractable extension of a Mortensen-Pissarides style matching model that allows for risk averse workers with limited ability to smooth consumption. I show that this leads to a form of equilibrium wage rigidity, as the inability of workers to smooth their consumption across unemployment and employment spells changes how unemployed workers value wage offers, and hence also the offers that employers find profitable to make. In the model risk-averse entrepreneurs use optimal long-term contracts to attract risk averse workers facing limited access to asset markets. A simple analytic representation for the equilibrium is derived. (JEL D81, E21, E24, E32, J31, J41, J64)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.101.6.2823 (Text)
Publications
  • Rudanko, Leena. “Aggregate and Idiosyncratic Risk in a Frictional Labor Market.” American Economic Review 101, no. 6 (October 2011): 2823–43. https://doi.org/10.1257/aer.101.6.2823.
    • ID: 10.1257/aer.101.6.2823 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-11

Rudanko, Leena (2011): Replication data for: Aggregate and Idiosyncratic Risk in a Frictional Labor Market. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112469