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To Search or Not to Search? The Effects of UI Benefit Extension for the Elderly Unemployed

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Author Info
Virve Ollikainen
Tomi Kyyrä

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Abstract

In Finland the older unemployed can collect unemployment insurance (UI) benefits until retirement, while the entitlement period for younger groups is two years. In 1997 the eligibility age of persons benefiting from extended benefits was raised from 53 to 55. This paper takes advantage of this quasi-experimental setting to identify the effect of extended UI benefits on transitions out of unemployment among the elderly unemployed. We apply a competing risks version of a split population duration model to account for multiple exit routes and the possibility that some of the elderly unemployed may not be active in the labour market due to pension rules. We estimate that roughly half of the workers with extended UI benefits have effectively withdrawn from the labour market. Those who remain active have a similar hazard rate to employment as individuals with the two-year entitlement period, but much lower hazard rates to non-participation and labour market programmes.

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Paper provided by Government Institute for Economic Research Finland (VATT) in its series Discussion Papers with number 400.

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Date of creation: 20 Oct 2006
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Handle: RePEc:fer:dpaper:400

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Related research
Keywords: Unemployment insurance; unemployment duration; early retirement; competing risks models;

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References listed on IDEAS
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  1. Takis Venetoklis & Heikki Ervasti, 2006. "Unemployment and Subjective Well-being: Does Money Make a Difference," Discussion Papers 391, Government Institute for Economic Research Finland (VATT). [Downloadable!]
  2. Sari Pekkala & Robert E.B. Lucas, 2005. "On the Importance of Finnishing School: Half a Century of Inter-generational Economic Mobility in Finland," Discussion Papers 359, Government Institute for Economic Research Finland (VATT). [Downloadable!]
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  3. Per Pettersson-Lidbom, 2004. "Does the Size of the Legislature Affect the Size of Government? Evidence from Two Natural Experiments," Discussion Papers 350, Government Institute for Economic Research Finland (VATT). [Downloadable!]
  4. Pekka Sinko, 2004. "Progressive Taxation Under Centralised Wage Setting," Discussion Papers 349, Government Institute for Economic Research Finland (VATT). [Downloadable!]
  5. Teemu Lyytikäinen, 2006. "Rent Control and Tenants' Welfare: The Effects of Deregulating Rental Markets in Finland," Discussion Papers 385, Government Institute for Economic Research Finland (VATT). [Downloadable!]
  6. Seppo Kari & Hietala & Harri, 2006. "Investment Incentives in Closely Held Corporations and Finland's 2005 Tax Reform," Discussion Papers 392, Government Institute for Economic Research Finland (VATT). [Downloadable!]
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  7. Seppo Kari & Ylä-Liedenpohja & Jouko, 2005. "Cost of Capital for Cross-border Investment: The Fallacy of Estonia as a Tax Haven," Discussion Papers 367, Government Institute for Economic Research Finland (VATT). [Downloadable!]
  8. Kyyrä, Tomi & Wilke, Ralf A., 2004. "Reduction in the Long-Term Unemployment of the Elderly : A Success Story from Finland," ZEW Discussion Papers 04-63, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
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