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The long-run cost of job loss as measured by consumption changes

[journal article]

Browning, Martin; Crossley, Thomas F.

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Abstract We consider the measurement of the cost of job displacement. With a Canadian panel survey we compare the consumption growth of households that experienced a permanent layoff to a control group of households that experienced a temporary layoff with known recall date. Because the firms employing the latter group are providing insurance, these workers approximate a benchmark of full insurance against job loss shocks. We estimate that permanent layoffs experience an average consumption loss of between 4% and 10%. Older workers and workers with high job tenure have losses closer to the top of this range.
Classification Labor Market Research
Free Keywords job displacement; consumption
Document language English
Publication Year 2008
Page/Pages p. 109-120
Journal Journal of Econometrics, 145 (2008) 1-2
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)