Hassler, John; Rodríguez Mora, José V. - Institute for International Economic Studies (IIES), … - 1997
unemployment insurance. Second, the duration of unemployment and employment spells are substantially higher in Europe - employment … turnover is lower. We show that self-insurance, i.e., saving and borrowing, is a good substitute for unemployment insurance … voter will prefer to self-insure instead of having unemployment insurance if turnover is high. We also show that high …