Calendrier du 15 octobre 2020
Macroeconomics Seminar
Du 15/10/2020 de 16:00 à 17:30
Using zoom
IOVINO Luigi (Bocconi)
Social Insurance, Information Revelation, and Lack of Commitment
écrit avec Mikhail Golosov (University of Chicago)
We consider optimal public provision of unemployment insurance when governmentís ability to commit is imperfect. Unemployed persons privately observe arrivals of job opportunities and choose probabilities of communicating this information to the government. Imperfect commitment implies that full information revelation is generally suboptimal. We define anotion of the social value of information and show that, due to the incentive constraints, it is a convex function of the information revealed. In the optimum each person is provided with an incentive to either reveal his private information fully or not reveal any of it, but the allocation of these incentives may be stochastic. In dynamic economies unemployed persons who enter a period with higher continuation utilities reveal their private information with lower probabilities. The optimal contract can be decentralized by a joint system of unemployment and disability benefits in a way that resembles how these systems are used in practice in developed countries.
Texte intégral
Travail et économie publique externe
Du 15/10/2020 de 12:30 à 13:45
Using zoom
POSTEL VINAY Fabien (UCL)
A Structural Analysis of Mental Health and Labor Market Trajectories
écrit avec Grégory Jolivet (University of Bristol)
We analyze the joint life-cycle dynamics of labor market and mental health outcomes. We allow for two-way interactions between work and mental health. We model selection into jobs on a labor market with search frictions, accounting for the level of exposure to stress in each job using data on occupational health contents. We estimate our model on British data from Understanding Society combined with information from O*NET. We estimate the impact of job characteristics on health dynamics and of the effects of health and job stress contents on career choices. We use our model to quantify the effects of job loss or health shocks that propagate over the life cycle through both health and work channels. We also estimate the (large) values workers attach to health, employment or non-stressful jobs. Lastly, we investigate the consequences on health, employment and inequality of trend changes in the distribution of job health contents.