Épargne de précaution et chômage: une évaluation quantitative de l'auto-assurance

Yann Algan, Arnaud Cheron, Jean-Olivier Hairault and Francois Langot

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Abstract: The potential welfare benefits of precautionary saving is studied using a quantitative dynamic general equilibrium model. To provide a role for precautionary saving, agents face exogeneous idiosyncratic employment shocks and are unable to borrow or insure themselves through private markets. It appears that precautionary saving allows to decrease the cost of labor market uncertainty to a level comparable with the observed unemployment insurance. However, taking into account the transitory path on which households must provide a huge effort of savings alters this conclusion. A rawlsian criterion leads to be more skeptical about the precautionary saving too.

Date: 2004
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Published in Annales d'Economie et de Statistique, 2004, 74, pp.105-130

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Related works:
Journal Article: Épargne de précaution et chômage: une évaluation quantitativede l'auto-assurance (2004)
Working Paper: Épargne de précaution et chômage: une évaluation quantitative de l'auto-assurance (2004)
Working Paper: Épargne de précaution et chômage: une évaluation quantitative de l'auto-assurance (2004)
Working Paper: Epargne de precaution et chomage: une evaluation quantitative de l'auto-assurance (2000)
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