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Optimal Life Cycle Unemployment Insurance

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  • Additional Information
    • Publication Date:
      2014
    • Collection:
      European_Research_Council__ERC__enriched
      Research_Papers_in_Economics_enriched
      European_Research_Council__ERC
      Research_Papers_in_Economics
    • Abstract:
      We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older workers. This is because the young tend to lack the means to smooth consumption during unemployment and want jobs to accumulate high-return human capital. So unemployment insurance is most valuable to them, while moral hazard is mild. By calibrating a life cycle model with unemployment risk and endogenous search effort, we find that allowing unemployment replacement rates to decline with age yields sizeable welfare gains to US workers. (JEL D91, E24, J13, J64, J65)
    • Accession Number:
      10.1257/aer.20111559
    • Accession Number:
      edsair.dedup.wf.001..a08febf566afef9e45c60290378ca4c8
  • Citations
    • ABNT:
      CLAUDIO MICHELACCI; HERNAN RUFFO. Optimal Life Cycle Unemployment Insurance. American Economic Review, [s. l.], v. 105, 2014. DOI 10.1257/aer.20111559. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsair&AN=edsair.dedup.wf.001..a08febf566afef9e45c60290378ca4c8&custid=s8280428. Acesso em: 8 jul. 2020.
    • AMA:
      Claudio Michelacci, Hernan Ruffo. Optimal Life Cycle Unemployment Insurance. American Economic Review. 2014;105. doi:10.1257/aer.20111559.
    • AMA11:
      Claudio Michelacci, Hernan Ruffo. Optimal Life Cycle Unemployment Insurance. American Economic Review. 2014;105. doi:10.1257/aer.20111559
    • APA:
      Claudio Michelacci, & Hernan Ruffo. (2014). Optimal Life Cycle Unemployment Insurance. American Economic Review, 105. https://doi.org/10.1257/aer.20111559
    • Chicago/Turabian: Author-Date:
      Claudio Michelacci, and Hernan Ruffo. 2014. “Optimal Life Cycle Unemployment Insurance.” American Economic Review 105 (October). doi:10.1257/aer.20111559.
    • Harvard:
      Claudio Michelacci and Hernan Ruffo (2014) ‘Optimal Life Cycle Unemployment Insurance’, American Economic Review, 105. doi: 10.1257/aer.20111559.
    • Harvard: Australian:
      Claudio Michelacci & Hernan Ruffo 2014, ‘Optimal Life Cycle Unemployment Insurance’, American Economic Review, vol. 105, viewed 8 July 2020, .
    • MLA:
      Claudio Michelacci, and Hernan Ruffo. “Optimal Life Cycle Unemployment Insurance.” American Economic Review, vol. 105, Oct. 2014. EBSCOhost, doi:10.1257/aer.20111559.
    • Chicago/Turabian: Humanities:
      Claudio Michelacci, and Hernan Ruffo. “Optimal Life Cycle Unemployment Insurance.” American Economic Review 105 (October 30, 2014). doi:10.1257/aer.20111559.
    • Vancouver/ICMJE:
      Claudio Michelacci, Hernan Ruffo. Optimal Life Cycle Unemployment Insurance. American Economic Review [Internet]. 2014 Oct 30 [cited 2020 Jul 8];105. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsair&AN=edsair.dedup.wf.001..a08febf566afef9e45c60290378ca4c8&custid=s8280428