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Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Tinbergen Institute Discussion Paper No. TI 2023-072/V
Verlag: 
Tinbergen Institute, Amsterdam and Rotterdam
Zusammenfassung: 
We study changes in job security after displacement and exploit eligibility rules for lump-sum payments in the Netherlands to investigate the role of liquid wealth. Within five years of job loss, the likelihood of being a permanent worker remains 12% lower for displaced workers. Those eligible to a lump-sum transfer experience a significantly smaller negative shock to job security. This effect is driven by workers with low liquid wealth, pointing to liquidity constraints as an important mechanism linking unemployment and job security. Finally, we estimate that losses in job security can explain 21% of the wage cost associated with job displacement.
Schlagwörter: 
Wealth inequality
Job loss
Job security
JEL: 
D31
E24
J65
Dokumentart: 
Working Paper
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