Series: IMF Working Papers
Author(s): Mauro Roca
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2009
Keywords: incomplete markets, heterogeneous agents, wage, unemployed, employment, Financial Markets and the Macroeconomy, Fiscal Policies and Behavior of Economic Agents: Household, Fiscal Policies and Behavior of Economic Agents: Firm, Unemployment: Models, Duration
This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the importance of incomplete markets when risk-averse agents are subject to idiosyncratic employmen...