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Re-entitlement Effects with Duration Dependent Unemployment Insurance in a Stochastic Matching Equilibrium

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Author Info
Melvyn Coles
Adrian Masters () (State University of New York Albany)

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Abstract

In the context of a standard equilibrium matching framework, this paper considers how a duration dependent unemployment insurance (UI) system affects the dynamics of unemployment and wages in an economy subject to stochastic job-destruction shocks. It establishes that re-entitlement effects induced by a finite duration UI program generate intertemporal transfers from firms that hire in future booms to firms that hire in current recessions. These transfers imply a net hiring subsidy in recessions which stabilizes unemployment levels over the cycle

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File URL: http://repec.org/sed2006/up.22661.1138986654.pdf
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Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 189.

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Date of creation: 03 Dec 2006
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Handle: RePEc:red:sed006:189

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Related research
Keywords: Matching frictions; Unemployment; Duration Dependent UI.;

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Find related papers by JEL classification:
J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
J65 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment Insurance; Severance Pay; Plant Closings

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  1. Torben M. Andersen & Michael Svarer, 2009. "Business Cycle Dependent Unemployment Insurance," Kiel Working Papers 1498, Kiel Institute for the World Economy. [Downloadable!]
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This page was last updated on 2009-11-26.

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