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The elasticity of the unemployment rate with respect to benefits

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Author Info
Christoffel, Kai
Kuester, Keith

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Abstract

Calibrated to replicate unemployment fluctuations, the standard Mortensen-Pissarides model implies that unemployment rises too strongly when benefits increase. Under an alternative bargaining assumption (right-to-manage) the model matches unemployment fluctuations, and implies a reasonable elasticity of unemployment with respect to benefits.

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Publisher Info
Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 102 (2009)
Issue (Month): 2 (February)
Pages: 102-105
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Handle: RePEc:eee:ecolet:v:102:y:2009:i:2:p:102-105

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Related research
Keywords: Real business cycles Bargaining Structural reforms Unemployment insurance;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Christoffel, Kai & Kuester, Keith, 2008. "Resuscitating the wage channel in models with unemployment fluctuations," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 865-887, July. [Downloadable!] (restricted)
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  2. Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, vol. 95(1), pages 25-49, March. [Downloadable!]
  3. Dale Mortensen & Eva Nagypal, 2007. "More on Unemployment and Vacancy Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 327-347, July. [Downloadable!] (restricted)
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  4. Costain, James S. & Reiter, Michael, 2008. "Business cycles, unemployment insurance, and the calibration of matching models," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1120-1155, April. [Downloadable!] (restricted)
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This page was last updated on 2009-12-12.

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