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008201105t20202020onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
043 |an-cn---
086 |aFB3-5/2020-47E-PDF
1001 |aBirinci, Serdar, |eauthor.
24510|aHow should unemployment insurance vary over the business cycle? / |cby Serdar Birinci and Kurt See.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020.
264 4|c©2020
300 |a1 online resource (ii, 46, 21 pages) : |bcolour graphs.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-47
500 |a"Last updated: November 6, 2020."
504 |aIncludes bibliographical references (pages 42-46).
5203 |a"We study optimal unemployment insurance (UI) policy over the business cycle, using a heterogeneous agent job-search model with aggregate risk and incomplete markets. We validate the model-implied micro and macro labor market elasticities to changes in the generosity of UI benefits against existing estimates and we reconcile divergent empirical findings. We show that generating the observed demographic differences between UI recipients and non-recipients is critical for determining the magnitudes of these elasticities. We find that the optimal UI policy features countercyclical replacement rates with an average generosity that is close to current U.S. policy but that it adopts drastically longer payment durations reminiscent of European policies"--Abstract, page ii.
650 0|aUnemployment insurance|xEconomic aspects.
650 6|aAssurance-chômage|xAspect économique.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2020-47.|w(CaOODSP)9.806221
85640|qPDF|s878 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-47-eng.pdf