Unemployment Insurance
نویسندگان
چکیده
The Keele Economics Department produces this series of research papers in order to stimulate discussion and invite feedback. Copyright remains with the authors. All papers in the kerp series are available for downloading from the Keele Economics website, via Abstract This paper analyses a model of private unemployment insurance under limited commitment and a model of public unemployment insurance subject to moral hazard in an economy with a continuum of agents and an infinite time horizon. The dynamic and steady-state properties of the private unemployment insurance scheme are established. The interaction between the public and private unemployment insurance schemes is examined. Examples are constructed to show that for some parameter values increased public insurance can reduce welfare by crowding out private insurance more than one-to-one and that for other parameter values a mix of both public and private insurance can be welfare maximising.
منابع مشابه
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