Cautious Careers: Job Mobility under Incomplete Markets
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Job mobility is risky, workers are risk averse, and insurance markets are incomplete. This paper studies how these features curb and distort job-to-job transitions by making workers excessively cautious: they place too much weight on job safety over wage and productivity gains. We demonstrate this
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美国国家经济研究局创建时间：
2026-08-01
