منابع مشابه
Unemployment insurance with hidden savings
This paper studies the design of unemployment insurance when neither the searching effort nor the savings of an unemployed agent can be monitored. If the principal could monitor the savings, the optimal policy would leave the agent savings-constrained. With a constant absolute risk-aversion (CARA) utility function, we obtain a closed form solution of the optimal contract. Under the optimal cont...
متن کاملMeasuring Unemployment Composition Over the Business Cycle
This paper proposes a strategy to measure, in a unified setting, how the job finding probability and the job separation probability conditional on observable and unobservable individual characteristics varies over the business cycle. Recent papers by Shimer and Hall point out how new measurements of the job finding probability explain unemployment volatility significantly better than the separa...
متن کاملOptimal Unemployment Insurance with Hidden Search Effort and Endogenous Savings∗
After first reviewing recent results on optimal unemployment insurance (UI) with unobserved search effort and hidden savings, this paper identifies that lump sum layoff payments play an important role. Simulations find that coordinating constant UI paid to the unemployed, with a severance payment that fully compensates for the drop in permanent income by being laid-off yields payoffs which are ...
متن کاملChapter 5 : Economic Freedom and Unemployment
Unemployment is costly to the individuals and families directly affected as well as to the economy and society as a whole. It is a waste of scarce resources, leading to a loss of income and potential output. For example, from his review of the relevant literature, Dawson (1992) concludes that, for the United Kingdom, an unemployment rate of almost 11% in 1983 entailed the loss of at least 11% t...
متن کاملOptimal Unemployment Insurance with Hidden Search E¤ort and Hidden Savings
This paper considers optimal unemployment insurance (UI) with unobserved search e¤ort and savings. Assuming linear search costs, it develops new variational arguments which identify a solution to the necessary conditions for optimality. The structure of the optimal UI program has unusual, yet highly intuitive, properties. A numerical example nds the optimal policy is well approximated by a lum...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Labour, Employment and Work in New Zealand
سال: 1970
ISSN: 2463-2600
DOI: 10.26686/lew.v0i0.872