A Macroeconomic Approach to Optimal Unemployment Insurance: Theory
在匹配模型中发展了最优失业保险理论，指出最优替代率是Baily-Chetty替代率加上一个修正项，该修正项在失业保险提高市场紧度至有效水平时为正。
This paper develops a theory of optimal unemployment insurance (UI) in matching models. The optimal UI replacement rate is the conventional Baily-Chetty replacement rate, which solves the tradeoff between insurance and job-search incentives, plus a correction term, which is positive when an increase in UI pushes the labor market tightness toward its efficient level. In matching models, most wage mechanisms do not ensure efficiency, so tightness is generally inefficient. The effect of UI on tightness depends on the model: increasing UI may raise tightness by alleviating the rat race for jobs or lower tightness by increasing wages through bargaining.