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Author: Tano, Gerard G.
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Tano, Gerard G. |
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Unemployment Insurance in Labor Search Model and Money Demand Ph.D. Dissertation, Southern Illinois University at Carbondale, 2012 Cohort(s): NLSY97 Publisher: ProQuest Dissertations & Theses (PQDT) Keyword(s): Labor Force Participation; Leisure; Unemployment; Unemployment Insurance; Wage Gap Permission to reprint the abstract has not been received from the publisher. Countries with unemployment insurance (UI) program can effectively conduct a labor market policy and observe the flow of unemployed-employed. But should we just hand UI over to anyone who has no job? Do individual response to the program in terms of their decision to work or to enjoy more leisure unanimously the same across leisure type characteristic individuals? In a heterogeneous constructed labor search market we derive that introduction of the UI program increases the wage gap between the different individuals when the program impacts the productivity of firm positively. In an empirical investigation of the impact of unemployment benefits on the duration of unemployment using a job search model, we specify a distribution of duration of unemployment that we estimate using maximum likelihood estimation and find that there is in the National Longitudinal Survey of Youth (NLSY 97) there are 3 types of individuals and the type of leisure individuals present an adverse response to the program: An increase in UI for the highest leisure type leads to a longer duration of unemployment. Whereas the lowest values of leisure do not tend to have an extended duration of unemployment from a positive change in UI. Finally, the response for the type 2 individuals is completely ambiguous as it could either see them having a prolonged duration of unemployment or a shortened period with no work. So a selective increase in unemployment insurance to those with a relatively low value of leisure may decrease the equilibrium rate of unemployment. |
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Bibliography Citation
Tano, Gerard G. Unemployment Insurance in Labor Search Model and Money Demand. Ph.D. Dissertation, Southern Illinois University at Carbondale, 2012. |