Funding mechanisms for social expenditures are currently being reformed in many countries. While the theoretical implications of these changes are often easily identified, their empirical magnitude is not always as clear. For example, in federal systems social expenditure is often funded by...

In this paper we examine whether the requirements which workers must satisfy to qualify for UI benefits in any succeeding period of joblessness affect the duration of employment spells. This behavioral consequence of a UI system has been neglected in empirical research, which has instead focused...

We introduce state dependent recursive preferences into the Mehra-Prescott economy. We show that such preferences can match the historical first two moments of the returns on equity and the risk free rate. Other authors have reported similar results using state dependent expected utility...