NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Uncertainty, Redistribution, and the Labor Market

Casey B. Mulligan

NBER Working Paper No. 19553
Issued in October 2013
NBER Program(s):   EFG   LS

Uncertainty and its composition can affect the demand for social insurance, and thereby the labor market. This paper shows that small to medium-sized increases in uncertainty or risk aversion are enough to recommend an expansion of the safety net that would be broadly similar to the actual safety net expansions, which significantly depressed the labor market. Labor market effects of uncertainty through investment and insurance channels are also examined with employer and employee labor wedges.

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Document Object Identifier (DOI): 10.3386/w19553

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