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Unemployment vs. mismatch of talents: reconsidering unemployment benefits

Record type: Article

We develop an equilibrium search-matching model with risk-neutral agents and two-sided ex-ante heterogeneity. Unemployment insurance has the standard effect of reducing employment, but also helps workers to get a suitable job. We show, through calibrations, how the mere difference on unemployment insurance, when countries experience a common skilled-biased technological shock, may result in differences in unemployment, productivity growth and wage inequality. These results are consistent with the contrasting performance of the labour market in Europe and the United States in the last twenty-five years. The model is used to address some political economy issues.

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Citation

Marimon, Ramon and Zilibotti, Fabrizio (1999) Unemployment vs. mismatch of talents: reconsidering unemployment benefits The Economic Journal, 109, (455), pp. 266-291. (doi:10.1111/1468-0297.00432).

More information

Published date: 1999
Organisations: Economics

Identifiers

Local EPrints ID: 33083
URI: http://eprints.soton.ac.uk/id/eprint/33083
ISSN: 0013-0133
PURE UUID: 5a7dd1bb-45e1-446d-a67c-b4f99ceaa326

Catalogue record

Date deposited: 21 Dec 2006
Last modified: 17 Jul 2017 15:54

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Contributors

Author: Ramon Marimon
Author: Fabrizio Zilibotti

University divisions


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