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Title: Evaluating Welfare Effect of Extended Unemployment Insurance Benefits
Authors: 黃柏鈞
Huang, Po-Chun
Yang, Tzu-Ting
Contributors: 經濟系
Date: 2020-05
Issue Date: 2021-06-01 16:21:57 (UTC+8)
Abstract: This paper estimates the welfare gain (i.e. ratio of liquidity to moral hazard effect) of extending UI benefits, using two natural experiments in Taiwan: a three-month benefits extension for middle-aged job losers and the introduction of a re-employment bonus. Our strategy exploits the fact that a re-employment bonus affects an individual's search efforts only through the moral hazard effect. Therefore, we recover liquidity effects by estimating the responses of the search effort to a UI extension and a re-employment bonus. We find that the estimated liquidity-to-moral hazard ratio of extending UI benefits is around 3.9, suggesting that the welfare gain of extending potential benefit duration is substantially larger than that of increasing benefit level.
Relation: Learning from Taiwan Workshop, Seoul National University, Seoul National University
Data Type: conference
Appears in Collections:[經濟學系] 會議論文

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