ヤマダ　トモアキ   Yamada Tomoaki   山田　知明    所属   明治大学  商学部    職種   専任教授
言語種別	英語
発行・発表の年月	2006/03
形態種別	その他
標題	Unemployment Insurance and Savings under Establishment Dynamics
執筆形態	単著
掲載誌名	COE/RES Discussion Paper Series
巻・号・頁	163,pp.1-35
概要	We consider issues concerning unemployment insurance under establishment dynamics. Extending the framework developed by Alvarez and Veracierto (1998), we investigate the welfare consequences of unemployment insurance for the aggregate economy and different groups of households. Although the aggregate implications of our quantitative results are similar to those of previous research, we show that unemployment insurance has different effects for agents with high and low asset holdings. In particular, increasing the replacement rate benefits agents with nearly zero assets and holders of very high levels of assets. Furthermore, we demonstrate that a different construction of the disutility of search effort has significant implications for unemployment insurance. If the search effort is inelastic over assets, the effect of the insurance declines compared with the case of flexible search.