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Income Contingent Loans for the Unemployed: A Preulde to a General Theory of the Efficient Provision of Social Insurance

Stiglitz, Joseph E.; Yun, Jungyoll

Income contingent loans (ICL) have mainly been discussed in the context of the finance of education. But, in fact, they are equally relevant whenever there is a simultaneous need for smoothing across states of nature and over time. This chapter explores in detail one such application, to unemployment.


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Income Contingent Loans
Palgrave Macmillan

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February 5, 2019
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