Equilibrium unemployment and the duration of unemployment benefits |
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| Authors: | Rafael Lalive Jan C van Ours Josef Zweim??ller |
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| Institution: | (1) Faculty of Business and Economics, University of Lausanne, CEPR and IZA, 1015 Lausanne, Switzerland;(2) Department of Economics, CentER, Tilburg University, CEPR and IZA, PO Box 90153, 5000 LE Tilburg, The Netherlands;(3) Institute for Empirical Research in Economics, University of Zurich, CEPR and IZA, M?hlebachstrasse 86, 8008 Zurich, Switzerland;; |
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| Abstract: | This paper uses microdata to evaluate the impact on the steady-state unemployment rate of an increase in maximum benefit duration. We evaluate a policy change in Austria that extended maximum benefit duration
and use this policy change to estimate the causal impact of benefit duration on labor market flows. We find that the policy
change leads to a significant increase in the steady-state unemployment rate and, surprisingly, most of this increase is due
to an increase in the inflow into rather than the outflow from unemployment. |
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