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Unemployment Policies In An Economy With Adverse Selection
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Book Synopsis Unemployment Policies in an Economy with Adverse Selection by : Noritaka Kudoh
Download or read book Unemployment Policies in an Economy with Adverse Selection written by Noritaka Kudoh and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects of unemployment policies in a simple static general equilibrium model with adverse selection in the labor market. Firms offer a contract that induces the self-selection of workers. In equilibrium, all unskilled workers are screened out and some skilled workers are rationed out. It is shown that the provision of unemployment insurance (UI) raises involuntary unemployment by encouraging adverse selection, while unemployment assistance (UA) - or subsidy to unemployment - reduces involuntary unemployment. A simple efficiency wage model is also presented to show that either of the two policies reduces employment by taxing effort and subsidizing shirking. The key is whether the social role of unemployment is a sorting device or a worker discipline device.
Book Synopsis Hiring and Firing Costs, Adverse Selection and the Presistence of Unemployment by : Adriana D. Kugler
Download or read book Hiring and Firing Costs, Adverse Selection and the Presistence of Unemployment written by Adriana D. Kugler and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Unemployment Insurance by : Andreas Pollak
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Book Synopsis Endogenous Adverse Selection and Unemployment Insurance by : W. Henry Chiu
Download or read book Endogenous Adverse Selection and Unemployment Insurance written by W. Henry Chiu and published by . This book was released on 1996 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment Insurance and Involuntary Unemployment : the Case of Adverse Selection by : Stephen R. G. Jones
Download or read book Unemployment Insurance and Involuntary Unemployment : the Case of Adverse Selection written by Stephen R. G. Jones and published by . This book was released on 1985 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unemployment and Insurance by : Sherwin Rosen
Download or read book Unemployment and Insurance written by Sherwin Rosen and published by . This book was released on 1983 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper elaborates equilibrium properties of contract labor markets when cost barriers limit labor mobility in response to demand and productivity shifts. Unemployment is sustained because the marginal value of labor is not equated across all firms; however the equilibrium contract optimally allocates a worker's time between market and nonmarket uses, given transactions cost-mobility constraints. Contracts provide full unemployment insurance for risks that are diversifiable by pooling among firms. Nondiversifiable (macro) risks are only partially shifted,largely through self-insurance (contingency saving). Increasing diversifiable risk has social value, similar to the value of an option. Increasing nondiversifiable risk has negative value because it reduces lifetime consumption. The main empirical implication of contract theory is shown to be closely related to the permanent income hypothesis and establishes linkages between labor activities and consumption behavior. It is atheory of consumption rigidity rather than wage rigidity. Another empirical implication is that unemployment incidence is proportional to comparative advantage in normarket production. Layoffs are ordered by workers' relative productivity in nonmarket compared with market sectors. The theory is used to analyze some features of the U.S. employment system. Its empirical support is briefly reviewed.
Book Synopsis An Adverse Selection Model of Optimal Unemployment Insurance by : Marcus Hagedorn
Download or read book An Adverse Selection Model of Optimal Unemployment Insurance written by Marcus Hagedorn and published by . This book was released on 2007 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Dynamic Approach to Europe's Unemployment Problem by : Simon M. Burgess
Download or read book A Dynamic Approach to Europe's Unemployment Problem written by Simon M. Burgess and published by Centre for Economic Policy Research. This book was released on 2005 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the main factors influencing unemployment at both an aggregate level and at an individual level and assesses the role of policies to bring unemployment down.
Book Synopsis Hiring and Firing Costs, Adverse Selection and the Persistence of Unemployment by : Adriana D. Kugler
Download or read book Hiring and Firing Costs, Adverse Selection and the Persistence of Unemployment written by Adriana D. Kugler and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Adverse Selection in the Labor Market by : Bruce C. Greenwald
Download or read book Adverse Selection in the Labor Market written by Bruce C. Greenwald and published by Dissertations-G. This book was released on 1979 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Growth, Unemployment, Distribution and Government by : V. Borooah
Download or read book Growth, Unemployment, Distribution and Government written by V. Borooah and published by Springer. This book was released on 1996-08-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to set out in a comprehensive, but succinct manner, the key points surrounding four economic issues that generate, today, much discussion and debate. These are the issues of growth, unemployment, distribution and government. It is aimed at an audience that is sufficiently interested in economic issues to read a book that sets out these issues clearly, comprehensively and above all, seriously. This has implications for both the style and the content of the book. Clarity requires that the arguments be presented coherently, without resort to jargon. Comprehensiveness requires a wide perspective embracing theoretical, empirical and policy matters. Lastly, seriousness requires that the most up-to-date thinking on economic matters is presented in digestible form, but without violence to the integrity of the original arguments. Achieving this trinity of objectives has been the primary aim of this book.
Book Synopsis Unemployment Insurance by : W. Henry Chiu
Download or read book Unemployment Insurance written by W. Henry Chiu and published by . This book was released on 1994 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Markets, Employment Policy, And Job Creation by : Lewis C. Solmon
Download or read book Labor Markets, Employment Policy, And Job Creation written by Lewis C. Solmon and published by Routledge. This book was released on 2019-03-07 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: This clear, accessible volume provides a comprehensive overview of the ongoing debate over the determining factors of and key influences on employment growth and labor market training, education, and related policies in the United States. Drawing on the work of distinguished labor economists, the chapters tackle questions posed by job and skill demands in the "new high-tech economy" and explore sources of employment growth; productivity growth and its implications for future employment; government mandates, labor costs, and employment; and labor force demographics, income inequality, and returns to human capital. These topics are central concerns for government, which must judge every prospective policy proposal by its effects on employment growth. Washington keeps at least one eye firmly on the jobs picture, and public officials at every level are constantly aware of the issues surrounding American job security. The jobs issue reaches beyond this focus on the unemployment rate and on total employment, including the rate at which employment is seen as growing, the growth of real wages, the security of employment, returns to human capital, uncertainty about the education and training best suited for a world of rapidly changing economic conditions, and the distribution of the gains from growth across economic classes and population groups.
Book Synopsis Risk-based Selection in Unemployment Insurance by : Camille Landais
Download or read book Risk-based Selection in Unemployment Insurance written by Camille Landais and published by . This book was released on 2017 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies whether adverse selection can rationalize a universal mandate for unemployment insurance (UI). Building on a unique feature of the unemployment policy in Sweden, where workers can opt for supplemental UI coverage above a minimum mandate, we provide the first direct evidence for adverse selection in UI and derive its implications for UI design. We find that the unemployment risk is more than twice as high for workers who buy supplemental coverage, even when controlling for a rich set of observables. Exploiting variation in risk and prices to control for moral hazard, we show how this correlation is driven by substantial risk-based selection. Despite the severe adverse selection, we find that mandating the supplemental coverage is dominated by a design leaving the choice to workers. In this design, a large subsidy for supplemental coverage is optimal and complementary to the use of a minimum mandate. Our findings raise questions about the desirability of the universal mandate of generous UI in other countries, which has not been tested before.
Book Synopsis Business Cycles, Economic Crises, and the Poor by : Pierre-Richard Agénor
Download or read book Business Cycles, Economic Crises, and the Poor written by Pierre-Richard Agénor and published by World Bank Publications. This book was released on 2001 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modelling Unemployment Insurance by : Paola Potestio
Download or read book Modelling Unemployment Insurance written by Paola Potestio and published by Springer Nature. This book was released on 2022-01-28 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines unemployment insurance policy through a survey, taking stock of the theoretical work in the field of labor economics. It closely follows and assesses developments in the modelling of optimal unemployment insurance (UI) policies, beginning with the initial analytical findings produced in the second half of the 1970s. A main part of the survey is devoted to the two basic strands of analysis about, respectively, the optimal level of UI benefits and the optimal time profile of UI policy. The book has two different objectives. The first is to provide an essential summary of the individual models, with the intention of underscoring how a number of specific messages for the policy-maker can be derived from analytical constructions. It further emphasizes and comments on what the models deliver to UI policy-makers. The second objective is to stress the importance and extension of open questions in the field of the theoretical approach to the unemployment insurance issue. The survey discusses the multiplicity of heterogeneities of the labor world in particular as relevant for UI issues on the one side, and on the other hand, the independence of the two basic choices of UI policy, its meaning and its limits, and the possible forms of complementarity between these choices. The book is a must-read for researchers, students, and policy-makers interested in a better understanding of the field of labor economics in general, as well as unemployment insurance policies in particular.
Book Synopsis Reforming the Welfare State by : Herbert Giersch
Download or read book Reforming the Welfare State written by Herbert Giersch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the sequel to Fighting Europe's Unemployment in the 1990s, the collection of papers presented at the Salzburg Symposium of the Egon-Sohmen-Foundation in 1994. Though the problem of un employment was urgent already then, it has not found a practical solution in the meantime, and even intellectually it remains somewhat of a mystery. A clue is offered by the contrast with the United States: they have the working poor; we, on the old continent, have the welfare recipients. This brings the relationship between unemployment and the welfare state to the fore. On closer inspection, however, the matter appears to be much more complicated than the transatlantic contrast suggests. Consider only that the welfare state and what is called "social policy" have a long tradition in Europe. They obviously did not pre vent or noticeably hamper the decline in unemployment in the 1950s and the emergence of full employment in the 1960s. This leaves room for various conjectures. Does the welfare state matter only after a long time lag or after it has grown too fast or too much beyond a critical size? Is it the welfare state per se that is harmful to employment or do its harmful effects arise only under certain conditions, e. g.
