Income Contingent Loans for the Unemployed: A Prelude to a General Theory of the Efficient Provision of Social Insurance

Joseph Stiglitz and Jungyoll Yun
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Jungyoll Yun: Ewha University

Chapter 16 in Income Contingent Loans, 2014, pp 180-204 from Palgrave Macmillan

Abstract: Abstract Income contingent loans (ICL) have mainly been discussed in the context of the finance of education. But, in fact, they are equally relevant whenever there is a simultaneous need for smoothing across states of nature and over time. This chapter explores in detail one such application, to unemployment.

Keywords: Search Cost; Unemployment Insurance; Precautionary Saving; Loan Market; Lifetime Income (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-41320-8_17

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DOI: 10.1057/9781137413208_17

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