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@article{ Browning2008, title = {The long-run cost of job loss as measured by consumption changes}, author = {Browning, Martin and Crossley, Thomas F.}, journal = {Journal of Econometrics}, number = {1-2}, pages = {109-120}, volume = {145}, year = {2008}, doi = {https://doi.org/10.1016/j.jeconom.2008.05.005}, urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-131845}, 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.}, }