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The Effects of Unemployment Compensation in General Equilibrium with Search Unemployment

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  • Axell, Bo
  • Lang, Harald

Abstract

It is shown that when the effects of an increase in unemployment subsidies are studied in a general equilibrium framework, unemployment increases far less than in a "partial-partial" model. In fact, the result may very well be a decrease in unemployment if the "general equilibrium forces" are strong enough. In the model used in this paper, an increase in unemployment compensation unambiguously decreases the rate of unemployment. Copyright 1990 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Axell, Bo & Lang, Harald, 1990. " The Effects of Unemployment Compensation in General Equilibrium with Search Unemployment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(4), pages 531-540.
  • Handle: RePEc:bla:scandj:v:92:y:1990:i:4:p:531-40
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    Cited by:

    1. Carling, Kenneth & Holmlund, Bertil & Vejsiu, Altin, 2001. "Do Benefit Cuts Boost Job Finding? Swedish Evidence from the 1990s," Economic Journal, Royal Economic Society, vol. 111(474), pages 766-790, October.
    2. Holmlund, Bertil, 1998. " Unemployment Insurance in Theory and Practice," Scandinavian Journal of Economics, Wiley Blackwell, vol. 100(1), pages 113-141, March.
    3. Frederick Van der Ploeg, 2004. "The Welfare State, Redistribution and the Economy, Reciprocal Altruism, Consumer Rivalry and Second Best," CESifo Working Paper Series 1234, CESifo Group Munich.

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