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dc.contributor.author | Hassler, John |
dc.contributor.author | Rodríguez Mora, José V. |
dc.contributor.author | Storesletten, Kjetil |
dc.contributor.author | Zilibotti, Fabrizio |
dc.contributor.other | Universitat Pompeu Fabra. Departament d'Economia i Empresa |
dc.date.accessioned | 2017-07-26T10:50:20Z |
dc.date.available | 2017-07-26T10:50:20Z |
dc.date.issued | 1998-04-01 |
dc.identifier | https://econ-papers.upf.edu/ca/paper.php?id=605 |
dc.identifier.uri | http://hdl.handle.net/10230/844 |
dc.description.abstract | In this paper, we incorporate a positive theory of unemployment insurance into a dynamic overlapping generations model with search-matching frictions and on-the-job learning-by-doing. The model shows that societies populated by identical rational agents, but differing in the initial distribution of human capital across agents, may choose very different unemployment insurance levels in a politico-economic equilibrium. The interaction between the political decision about the level of the unemployment insurance and the optimal search behavior of the unemployed gives rise to a self-reinforcing mechanism whichmay generate multiple steady-state equilibria. In particular, a European-type steady-state with high unemployment, low employment turnover and high insurance can co-exist with an American-type steady-state with low unemployment, high employment turnover and low unemployment insurance. A calibrated version of the model features two distinct steady-state equilibria with unemployment levels and duration rates resembling those of the U.S. and Europe, respectively. |
dc.format.mimetype | application/pdf |
dc.language.iso | eng |
dc.relation.ispartofseries | Economics and Business Working Papers Series; 605 |
dc.rights | L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
dc.title | Equilibrium unemployment insurance |
dc.type | info:eu-repo/semantics/workingPaper |
dc.date.modified | 2017-07-23T02:06:45Z |
dc.subject.keyword | comparative advantege |
dc.subject.keyword | employment |
dc.subject.keyword | political equilibrium |
dc.subject.keyword | search |
dc.subject.keyword | specialization |
dc.subject.keyword | unemployment insurance |
dc.subject.keyword | Macroeconomics and International Economics |
dc.rights.accessRights | info:eu-repo/semantics/openAccess |