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Risk aversion does not justify the introduction of mandatory unemployment insurance in the shirking model

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Author Info
Julia Fath
Clemens Fuest

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Abstract

The introduction of unemployment insurance is usually thought to increase welfare if workers are sufficiently risk averse. We analyse the effects of introducing mandatory unemployment insurance in the shirking model. Surprisingly, we find that introducing unemployment insurance reduces welfare irrespective of the degree of risk aversion.

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File URL: http://ockenfels.uni-koeln.de/RePEc/download/wp0019.pdf
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Publisher Info
Paper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number 19.

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Date of creation: 09 Aug 2005
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Handle: RePEc:kls:series:0019

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Related research
Keywords: Efficiency Wages; Shirking; Unemployment Insurance;

Find related papers by JEL classification:
J0 - Labor and Demographic Economics - - General
J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
H1 - Public Economics - - Structure and Scope of Government

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  1. Holmlund, Bertil, 1998. " Unemployment Insurance in Theory and Practice," Scandinavian Journal of Economics, Blackwell Publishing, vol. 100(1), pages 113-41, March. [Downloadable!] (restricted)
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  2. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June. [Downloadable!] (restricted)
  3. Julia Fath & Clemens Fuest, 2005. "Experience Rating versus Employment Protection Laws in a Model where Firms Monitor Workers," Scandinavian Journal of Economics, Blackwell Publishing, vol. 107(2), pages 299-314, 06. [Downloadable!] (restricted)
  4. Albrecht, James W. & Vroman, Susan B., 1996. "A note on the long-run properties of the shirking model," Labour Economics, Elsevier, vol. 3(2), pages 189-195, September. [Downloadable!] (restricted)
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This page was last updated on 2009-11-12.

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