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Unemployment accounts and employment incentives

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Author Info
Brown, Alessio J.G.
Orszag, J. Michael
Snower, Dennis J.

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Abstract

We explore the far-reaching implications of replacing current unemployment benefit (UB) systems by an unemployment accounts (UAs) system. Under the UAs system, employed people are required to make ongoing contributions to their UAs and the balances in these accounts are available to them during periods of unemployment. The government is able to undertake balanced-budget interpersonal redistributions among the UAs. At the end of their working lives, people could transfer the remaining balances on their UAs into their pensions. We present an analytical framework to analyse the incentive effects of UAs and calibrate our model for the high high-unemployment countries of Europe. Our results suggest that this policy reform would significantly change people's employment incentives and could achieve reductions in unemployment without reducing the level of support to the unemployed.

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File URL: http://www.sciencedirect.com/science/article/B6V97-4STYTPN-1/2/39cf6a061cb4d564b72547105f97930b
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Publisher Info
Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 24 (2008)
Issue (Month): 3 (September)
Pages: 587-604
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Handle: RePEc:eee:poleco:v:24:y:2008:i:3:p:587-604

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Web page: http://www.elsevier.com/locate/inca/505544

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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. J. Michael Orszag & Dennis J. Shower, 2000. "The Effectiveness of Employment Vouchers: A Simple Approach," German Economic Review, Blackwell Publishing, vol. 1(4), pages 385-419, November. [Downloadable!] (restricted)
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Cited by:
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  1. Alessio J. G. Brown & Dennis Snower, 2009. "Incentives and Complementarities of Flexicurity," Kiel Working Papers 1526, Kiel Institute for the World Economy. [Downloadable!]
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This page was last updated on 2009-12-3.

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