English, Article, Journal or magazine article edition: Re-entitlement Effects with Duration Dependent Unemployment Insurance in a Stochastic Matching Equilibrium Melvyn Coles; Adrian Masters

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Bookmark: http://trove.nla.gov.au/version/30674
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Re-entitlement Effects with Duration Dependent Unemployment Insurance in a Stochastic Matching Equilibrium
Author
  • Melvyn Coles
  • Adrian Masters
Physical Description
  • preprint
Notes
  • 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
  • Matching frictions, Unemployment, Duration Dependent UI.
  • RePEc:red:sed006:189
Language
  • English
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