A welfare analysis of unemployment insurance (UI) is performed in a general equilibrium job search model. Finitely lived, risk-averse workers smooth consumption over time by accumulating assets, choose search effort when unemployed, and suffer disutility from work. Firms hire workers, purchase...

This paper re-examines the comparative statics effects of increases in both the lump-sum and proportional components of an unemployment-insurance benefit on saving and labor supply. We analyze a two-period model of labor supply and saving that incorporates a known probability of being unemployed...

We study how individual unemployment expectations are shaped and updated using a unique longitudinal survey data set with subjective unemployment expectations. The survey data is linked with third-party reported administrative data on unemployment realizations, such that we are able to examine...