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Optimal unemployment insurance in search equilibrium
Uppsala University, Humanistisk-samhällsvetenskapliga vetenskapsområdet, Faculty of Social Sciences, Department of Economics.
Uppsala University, Humanistisk-samhällsvetenskapliga vetenskapsområdet, Faculty of Social Sciences, Department of Economics.
1998 (English)Report (Other academic)
Abstract [en]

Should unemployment compensation be paid indefinitely at a fixed rate or should it decline (or increase) over a worker’s unemployment spell? We examine these issues using an equilibrium model of search unemployment. The model features worker-firm bargaining over wages, free entry of new jobs, and endogenous search effort among the unemployed. The main result is that an optimal insurance program implies a declining sequence of unemployment compensation over the spell of unemployment. Numerical calibrations of the model suggest that there are non-trivial welfare gains associated with switching from an optimal uniform benefit structure to an optimally differentiated system.

Place, publisher, year, edition, pages
Uppsala: Nationalekonomiska institutionen , 1998. , 33 p.
Series
Working paper, ISSN 0284-2904
Keyword [en]
Economics
Keyword [sv]
Nationalekonomi
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-2402ISBN: 99-2580988-6 OAI: oai:DiVA.org:uu-2402DiVA: diva2:128663
Available from: 1998-01-01 Created: 1998-01-01

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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Language
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Output format
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