| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13624 |
| DP13624 The Value of Unemployment Insurance | |
| Camille Landais; Johannes Spinnewijn | |
| 发表日期 | 2019-03-26 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | In the absence of unemployment insurance (UI) choices, the standard approach to estimating the value of UI is to infer it from the observed consumption response to job loss in combination with some assumption on preferences. Exploiting the unique data and policy context in Sweden, we propose two alternative approaches, which we implement and compare to the standard consumption-based approach on the exact same sample of workers. We nd that the drop in consumption expenditures upon job loss is relatively small ( 13 percent), but the marginal propensity to consume (MPC), estimated using variation in local government transfers, is around 25 percent higher when unemployed than when employed. We show that this wedge in MPCs, the focus of our rst approach, reveals a high relative price of smoothing consumption, conrmed by direct evidence on the limited consumption smoothing means available during unemployment. The estimated relative price provides a lower-bound on the value of UI, which turns out to be substantially higher than the consumption-based estimate under standard preference assumptions. Exploiting the UI choices embedded in the Swedish UI system, we also propose a Revealed-Preference approach, which conrms that the average value of UI is large in our setting, but also reveals substantial dispersion in the value of UI, above and beyond the variation in consumption drops. |
| 主题 | Labour Economics ; Public Economics |
| 关键词 | Unemployment insurance Consumption smoothing Revealed preference Mpc |
| URL | https://cepr.org/publications/dp13624-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542482 |
| 推荐引用方式 GB/T 7714 | Camille Landais,Johannes Spinnewijn. DP13624 The Value of Unemployment Insurance. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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