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Human Capital Accumulation and the Optimal Level of Unemployment Insurance Provision

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Author Info
Brown, Eleanor
Kaufold, Howard
Abstract

Previous studies of optimal unemployment insurance design ignore the impact of unemployment insurance on human capital investment decisions. The authors show that fully experience-rated unemployment insurance increases investment in human capital when future employment opportunities are not known with certainty. In the presence of wage taxation, the optimal level of unemployment insurance trades off full insurance and the impact, through human capital, of unemployment insurance on the wage tax base. This trade-off, in turn, depends on the extent to which human capital accumulation reallocates labor between market and untaxed nonmarket activities. Taxation of unemployment insurance benefits increases the optimal level of unemployment insurance provision. Copyright 1988 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 6 (1988)
Issue (Month): 4 (October)
Pages: 493-514
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Handle: RePEc:ucp:jlabec:v:6:y:1988:i:4:p:493-514

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  1. Costa, Carlos Eugênio da & Maestri, Lucas Jóver, 2005. "The Interaction Between Unemployment Insurance and Human Capital Policies," Economics Working Papers (Ensaios Economicos da EPGE) 595, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]
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  2. Castro-Fernandez, Rodriguo & Wodon, Quentin, 2002. "Protecting the Unemployed in Chile: From State Assistance to Individual Insurance?," MPRA Paper 15416, University Library of Munich, Germany. [Downloadable!]
  3. Jonathan Gruber, 1994. "The Consumption Smoothing Benefits of Unemployment Insurance," NBER Working Papers 4750, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Dan Bernhardt & Steeve Mongrain, 2007. "The Layoff Rat Race," Discussion Papers dp07-06, Department of Economics, Simon Fraser University. [Downloadable!]
  5. Kreider, Brent, 2005. "Optimal Wage Taxation When Human Capital and Employment Are Endogenous," Staff General Research Papers 12358, Iowa State University, Department of Economics.
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