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Sur l’impact de l’assurance-chômage dans une économie keynésienneOn the impact of unemployment insurance in a Keynesian economy

Author

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  • Hung, N. M.

    (Université Laval)

  • Lefebvre, P.

    (Université du Québec à Montréal)

Abstract

This paper deals with involuntary unemployment. We suppose that wages fail to clear markets and undertake a disequilibrium analysis of the effect of unemployment insurance (U.I.) on unemployment and production. The disequilibrium model is so constructed as to take into account the impact of U.I. on all markets. The neo-classical paradigm based on an equilibrium approach is contrasted with the neo-keynesian paradigm which assumes persistent disequilibrium. It is shown in this perspective that U.I. has an impact on unemployment when the latter is keynesian in nature rather than classical. We conclude that in order to evaluate empirically the effect of U.I., the various kinds of unemployment under analysis must be distinguished. We find moreover, that a disequilibrium framework is most appropriate for the study of unemployment.

Suggested Citation

  • Hung, N. M. & Lefebvre, P., 1981. "Sur l’impact de l’assurance-chômage dans une économie keynésienneOn the impact of unemployment insurance in a Keynesian economy," L'Actualité Economique, Société Canadienne de Science Economique, vol. 57(4), pages 525-552, octobre-d.
  • Handle: RePEc:ris:actuec:v:57:y:1981:i:4:p:525-552
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    References listed on IDEAS

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    1. Bronsard, C. & Bronsard-Salvas, L., 1978. "Sur L'estimation D'un Systeme Complet de Demande Sous Rationnements Quantitatifs," Cahiers de recherche 7806, Universite de Montreal, Departement de sciences economiques.
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    7. Pissarides, Christopher A, 1976. "Job Search and Participation," Economica, London School of Economics and Political Science, vol. 43(169), pages 33-49, February.
    8. Feldstein, Martin S, 1976. "Temporary Layoffs in the Theory of Unemployment," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 937-957, October.
    9. Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 347-368, September.
    10. Parsons, Donald O, 1973. "Quit Rates Over Time: A Search and Information Approach," American Economic Review, American Economic Association, vol. 63(3), pages 390-401, June.
    11. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678-678.
    12. Azariadis, Costas, 1975. "Implicit Contracts and Underemployment Equilibria," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1183-1202, December.
    13. Mattila, J Peter, 1974. "Job Quitting and Frictional Unemployment," American Economic Review, American Economic Association, vol. 64(1), pages 235-239, March.
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