Labour market institutions and household consumption insurance within OECD countries

No 150, CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy)

Abstract: This paper tests empirically whether the effect of idiosyncratic income shocks on aggregate consumption depends on institutional features of national labour markets. The results show that, in a sample of 15 OECD countries, institutional heterogeneity is a significant determinant of the response of household consumption to country-specific income shocks. This is consistent with the idea that institutionally-provided social insurance may help increase income stability when people differ in their ability to access financial markets and smooth consumption fluctuations.

Pages: 32 pages
Date: 2015-09
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Labour Market Institutions and Household Consumption Insurance within OECD Countries (2016)
Working Paper: Labour market institutions and household consumption insurance within OECD countries (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:crp:wpaper:150

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