Objective
Research objectives and content
The aim of this research is to analyse the way in which individuals react to the presence of employment risk and, in particular, the effects of this risk on savings and labour supply. The reason for this type of analysis is to highlight the interaction between different self-insurance mechanisms and, therefore, the possible effects of a change in the institutional settings faced by individuals.
More precisely, the research agenda includes two main objectives:
a. to examine the empirical evidence on the non-separability between consumption and leisure in an intertemporal context, with particular attention to the individuals' willingness to use labour supply as a mean to insure against employment risk and as a response to negative income shocks; b. to extend the theoretical understanding of the phenomenon under investigation by considering the implications of non-separability and employment risk for the Euler equation of consumption, by examining the optimal response to the presence of risk with different structures of preferences and by including in the model agents' behaviour after retirement.
Training content (objective, benefit and expected impact)
Training will focus on the methodological issues involved in moving from theoretical to empirically testable specifications of the functions of interest and on the new developments in integrating direct estimation techniques with simulation techniques. This second aspect is particularly important because the complexity of the problem suggests that standard econometric techniques would not permit to recover from the data the information of interest.
Links with industry / industrial relevance (22)
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
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Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
LONDON
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.