Asset‐based Unemployment Insurance
Bibliographic Data
| ID | 19035175 |
|---|---|
| Authors | Pontus Rendahl (0000-0003-3052-5732, corresponding author) |
| Year | 2012 |
| Volume | 53 |
| Issue | 3 |
| Pages | 743-770 |
| Publication date | 2012-07-25 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Economic Review (JOURNAL) |
| Journal identifiers | ISSN: 0020-6598 • E-ISSN: 1468-2354 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-2354.2012.00699.x |
| OpenAlex | W2147836015 |
| Language | EN |
| Citations received | 4 |
| References cited | 25 |
This article studies a model of consumption, savings, and job search in which a borrowing constraint limits self‐insurance. The government administers the unemployment insurance program that may condition on an individual’s asset position, but not on her efforts of finding a job. To compensate for the impediments to self‐insurance, benefit payments should optimally be set higher at lower wealth levels and peak for borrowing‐constrained individuals with zero liquid funds. A quantitative exercise reveals that the U.S. unemployment insurance program is surprisingly close to optimal for the asset poor, but far too generous for wealthier individuals
Actuarial science · Business · Economics · Insurance policy · Key person insurance · Labour economics · Macroeconomics · Payment · Unemployment · Financial Literacy, Pension, Retirement Analysis · Gender, Labor, and Family Dynamics · Labor market dynamics and wage inequality · Finance
Unemployment Insurance and Unemployment Spells
Solving the Stochastic Growth Model by Policy-Function Iteration
Endogenous Adverse Selection and Unemployment Insurance
Optimal Unemployment Insurance
Precautionary Saving and Social Insurance
Designing Optimal Disability Insurance
Moral Hazard versus Liquidity and Optimal Unemployment Insurance
The Optimal Payment of Unemployment Insurance Benefits over Time
The Wealth of the Unemployed
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,36 |
| Citation span | 2015 - 2024 (10) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 4 |