T
Tom Krebs
Researcher at University of Mannheim
Publications - 70
Citations - 1149
Tom Krebs is an academic researcher from University of Mannheim. The author has contributed to research in topics: Welfare & Human capital. The author has an hindex of 16, co-authored 66 publications receiving 1082 citations. Previous affiliations of Tom Krebs include Brown University & Syracuse University.
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Human Capital Risk and Economic Growth
TL;DR: This article developed a tractable incomplete-markets model of economic growth in which households invest in risk-free physical capital and risky human capital and showed that a reduction in uninsurable idiosyncratic labor income risk decreases physical capital investment, but increases human capital investment.
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Job Displacement Risk and the Cost of Business Cycles
TL;DR: In this paper, the welfare costs of business cycles when workers face uninsurable job displacement risk that has a cyclical component were analyzed using a simple general equilibrium model with incomplete markets, and they showed that for sufficiently high degree of risk aversion (at least one), cyclical variations in the long-term earnings losses of displaced workers can generate arbitrarily large cost of business cycle even if the second moments of the distribution of individual income changes are constant over the cycle.
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Growth and welfare effects of business cycles in economies with idiosyncratic human capital risk
TL;DR: In this article, the authors used a tractable macroeconomic model with idiosyncratic human capital risk and incomplete markets to analyze the growth and welfare effects of business cycles and showed that a reduction in the variation in idiosyncratic risk decreases the ratio of physical to human capital and increases the total investment return and welfare.
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Macroeconomic Evaluation of Labor Market Reform in Germany
Tom Krebs,Martin Scheffel +1 more
TL;DR: In this paper, the authors used an incomplete-market model with search-unemployment to evaluate the macroeconomic and welfare effects of the Hartz IV reform, and they found that the reform has reduced the long-run (noncyclical)unemployment rate in Germany by 1.4 percentage points.
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Trade Policy, Income Risk, and Welfare
Tom Krebs,Pravin Krishna,Pravin Krishna,Pravin Krishna,William F. Maloney,William F. Maloney +5 more
TL;DR: In this article, the relationship between trade policy and individual income risk faced by workers, and uses the estimates of this empirical analysis to evaluate the welfare effect of trade reform is evaluated.