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Abstract

A simple Monte Carlo calibration approach is implemented in a GE model with uninsurable employment risk to quantitatively study the optimal replacement rate of a public unemployment insurance (UI) scheme. The optimal UI sampling distribution is found to be bimodal.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165176512002078
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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 117 (2012)
Issue (Month): 1 ()
Pages: 28-31

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Handle: RePEc:eee:ecolet:v:117:y:2012:i:1:p:28-31

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Calibration methods; Unemployment risk; Optimal unemployment insurance; Heterogeneous agents; Incomplete markets;

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Find related papers by JEL classification:

• C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
• E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
• D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
• D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

References

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