This paper proposes relative profits (RP) as a robust measure of competition. I consider nine different parameterizations of competition and show that more intense competition increases the profits of a firm relative to a less efficient firm. Further, popular competition measures like the...

We model how unemployment benefit sanctions - benefit reductions that are imposed if unemployed do not comply with job search guidelines - affect unemployment. We find that benefit sanctions are more effective in reducing unemployment than an across-the-board reduction in the replacement rate,...

This paper analyses the effects of unemployment insurance (UI) in a model with two sectors where one sector is more risky than the other, in the sense that the probability of becoming unemployed is higher. With risk-averse agents it is the case that, over a range of values of UI, increasing UI...