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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Market externalities of large unemployment insurance extension programs |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | American Economic Review |
| Publisher | American Economic Association |
| Geographical Reach | international |
| ISSN | 0002-8282 |
| Volume | 105 |
| Number | 12 |
| Page Range | 3564 - 3596 |
| Date | 2015 |
| Abstract Text | We provide evidence that unemployment insurance affects equilibrium conditions in the labor market, which creates significant "market externalities." We provide a framework for identification of such equilibrium effects and implement it using the Regional Extension Benefit Program (REBP) in Austria which extended the duration of UI benefits for a large group of eligible workers in selected regions of Austria. We show that non-eligible workers in REBP regions have higher job finding rates, lower unemployment durations, and a lower risk of long-term unemployment. We discuss the implications of our results for optimal UI policy. |
| Free access at | DOI |
| Digital Object Identifier | 10.1257/aer.20131273 |
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| Keywords | Employment, unemployment, wages, intergenerational income distribution, aggregate human capital, aggregate labor productivity |