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| Author: | Boone, J. (et al.) |
| Title: | Optimal unemployment insurance with monitoring and sanctions |
| Journal: | Economic Journal
2007 : MAR, VOL. 117:518, p. 399-421 |
| Index terms: | unemployment unemployment insurance |
| Language: | eng |
| Abstract: | The paper analyses the design of optimal unemployment insurance in a search equilibrium framework where search effort among the unemployment is not perfectly observable. The study examines to what extent the optimal policy involves monitoring of a search effort and benefits sanctions if observed search is deemed insufficient. It is found that introducing monitoring and sanctions represents a welfare improvement for reasonable estimates of monitoring costs; this conclusion holds both relative to a system featuring indefinite payments of benefits and a system with a time limit on unemployment benefit receipt. |
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