Please use this identifier to cite or link to this item: https://doi.org/10.1093/rfs/hhac013
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dc.titleUnemployment Insurance as a Subsidy to Risky Firms
dc.contributor.authorVan Doornik, Bernardus
dc.contributor.authorDIMAS MATEUS FAZIO
dc.contributor.authorSchoenherr, David
dc.contributor.authorSkrastins, Janis
dc.date.accessioned2022-06-22T01:34:34Z
dc.date.available2022-06-22T01:34:34Z
dc.date.issued2022-01-22
dc.identifier.citationVan Doornik, Bernardus, DIMAS MATEUS FAZIO, Schoenherr, David, Skrastins, Janis (2022-01-22). Unemployment Insurance as a Subsidy to Risky Firms. The Review of Financial Studies. ScholarBank@NUS Repository. https://doi.org/10.1093/rfs/hhac013
dc.identifier.issn08939454
dc.identifier.issn14657368
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/227317
dc.description.abstract<jats:title>Abstract</jats:title> <jats:p>We document that a more generous unemployment insurance (UI) system shifts labor supply from safer to riskier firms and reduces the compensating wage differentials that risky firms need to pay. Consequently, a more generous UI system increases risky firms’ value and fosters entrepreneurship by reducing new firms’ labor costs. Exploiting a UI reform in Brazil that affects only part of the workforce allows us to compare labor supply for workers with different degrees of UI protection within the same firm, sharpening the identification of the results. Altogether, our results suggest that UI provides a transfer system from safe to risky firms.</jats:p>
dc.publisherOxford University Press (OUP)
dc.sourceElements
dc.typeArticle
dc.date.updated2022-06-21T10:10:50Z
dc.contributor.departmentDEPT OF FINANCE
dc.description.doi10.1093/rfs/hhac013
dc.description.sourcetitleThe Review of Financial Studies
dc.published.stateUnpublished
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