Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/241213 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
Bank of Canada Staff Working Paper No. 2020-47
Verlag: 
Bank of Canada, Ottawa
Zusammenfassung: 
We study optimal unemployment insurance (UI) policy over the business cycle, using a heterogeneous agent job-search model with aggregate risk and incomplete markets. We validate the model-implied micro and macro labor market elasticities to changes in the generosity of UI benefits against existing estimates and we reconcile divergent empirical findings. We show that generating the observed demographic differences between UI recipients and non-recipients is critical for determining the magnitudes of these elasticities. We find that the optimal UI policy features countercyclical replacement rates with an average generosity that is close to current U.S. policy but that it adopts drastically longer payment durations reminiscent of European policies.
Schlagwörter: 
Business cycles and fluctuations
Labour markets
Fiscal policy
JEL: 
E24
E32
J64
J65
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
880.31 kB





Publikationen in EconStor sind urheberrechtlich geschützt.