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16:00 - 18:00 23 May 2013

The Design of Unemployment Transfers: Evidence from a Dynamic Structural Life-cycle Model


Ricardo Lecture Theatre | Drayton House (link Map)
30 Gordon Street | London | WC1H 0AN | United Kingdom

Open to: Academic | Student
Ticketing: Open

Speaker information

Victoria Prowse, Cornell University

We specify and estimate a model of the job search, labor supply, retirement and savings decisions of single-adult and couple households over the life-cycle. Parameter estimates are obtained using Indirect Inference, and we validate the model using a recent reform of Unemployment Insurance benefits. Drawing on the estimated model, we study the interplay between household labor supply and public insurance mechanisms. We focus on the intra-household insurance provided by the ability to vary the second earner's labor supply in couple households. We show how the insurance value of spousal labor supply depends on the generosity of Unemployment Insurance and universal Social Assistance benefits.


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