Job Insecurity and Financial Distress

Giannetti, Caterina ; Madia, Marianna ; Moretti, Luigi (2013) Job Insecurity and Financial Distress. Bologna: Dipartimento di Scienze economiche DSE, p. 30. DOI 10.6092/unibo/amsacta/3723. In: Quaderni - Working Paper DSE (887). ISSN 2282-6483.
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Abstract

This paper investigates the effects of different job categories on households’ likelihood of experiencing financial distress. Given imperfect financial markets and the absence of unemployment subsidies, households with less secure jobs are likely to experience drops in income more frequently than households with well-protected jobs. Households’ abilities to deal with financial decisions (i.e. financial literacy) can mitigate these problems. Our results suggest that greater job insecurity increases the probability of being in financial distress similarly than other working statuses (e.g. unemployment), and in some cases even more (i.e. part-time workers). However, a high level of financial literacy can counterbalance this effect, especially for atypical workers.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Giannetti, Caterina
Madia, Marianna
Moretti, Luigi
Keywords
Personal Finance, Debt, Financial Distress, Job Insecurity
Subjects
ISSN
2282-6483
DOI
Deposit date
05 Jul 2013 13:21
Last modified
03 Oct 2013 08:42
URI

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