welfare. This insight leads to a novel test for the optimality of unemployment insurance based on the responsiveness of … reservation wages to unemployment benefits. Some existing estimates imply significant gains to raising the current level of … unemployment benefits in the United States, but highlight the need for more research on the determinants of reservation wages. Our …

This paper examines how unemployment affects retirement and whether the Unemployment Insurance (UI) system and Social … consistent evidence of an effect. This suggests that in some ways SS may serve as a more effective form of unemployment insurance …

behaviors in 10th grade eliminates the unemployment effect, but strengthens the wage effect. As the latter is not explicable by …

How have labor market institutions and welfare-state transfers affected jobs and productivity in Western Europe …, relative to industrialized Pacific Rim countries? Orthodox criticisms of European government institutions are right in some … have had in the 1960s and 1970s. Similarly, other institutions closer to the core of the welfare state have caused no net …

It is well known that unemployment benefits raise unemployment durations. This result has traditionally been … hazard. This paper questions this interpretation by showing that unemployment benefits can also affect durations through an … proxies such as asset holdings. I find that increases in unemployment benefits have small effects on durations in the …

evolution of the labor share, the profit rate, the capital/output ratio, and unemployment which we examine more particularly in …

neutral levels of key variables-potential GDP, the natural rate of unemployment, and the equilibrium real interest rate, need … actual data to find them. Further, low-frequency movements of unemployment suggest a failure of the basic idea that … low-frequency movements of unemployment. I conclude that monetary policymakers should not try to discern neutral values of …

employment, GDP, and unemployment. The release of resources from the housing sector lowers investment goods prices, and thereby …