Diaz-Serrano, Mr. Luis and O'Neill, Dr. Donal
An Empirical Note on the Relationship between Unemployment and Risk-Aversion.
In this paper we use a direct measure of individual risk-aversion to examine the relationship between risk-aversion and unemployment. Contrary to what the simple search model perdicts, we observe that more risk-averse individuals are more lkiley to be unemployed. We present extensions of the search model that can reconcile the theory with the relationships observed in the data.
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