This Paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks … cases of self-insurance and the complete markets assumption. We assess the degree of insurance over and above self-insurance … conventional demand analysis rather than reduced form imputation procedures. Our results point to some partial insurance but reject …

unemployed is particularly costly, this policy provides insurance equivalent to that provided by the current system. By reducing …

We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older … accumulate high-return human capital. So unemployment insurance is most valuable to them, while moral hazard is mild. By …