Optimal unemployment insurance in GE: A robust calibration approach

A simple Monte Carlo calibration approach is implemented in a GE model with uninsurable employment risk to quantitatively study the optimal replacement rate of a public unemployment insurance (UI) scheme. The optimal UI sampling distribution is found to be bimodal.

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Year of publication:	2012
Authors:	Cozzi, Marco
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 117.2012, 1, p. 28-31
Publisher:	Elsevier
Subject:	Calibration methods \| Unemployment risk \| Optimal unemployment insurance \| Heterogeneous agents \| Incomplete markets

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Type of publication:	Article
Classification:	C15 - Statistical Simulation Methods; Monte Carlo Methods ; E21 - Consumption; Saving ; D52 - Incomplete Markets ; D58 - Computable and Other Applied General Equilibrium Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010580487