Optimal Unemployment Insurance with Monitoring and Sanctions
在搜索均衡框架下分析最优失业保险设计，发现引入监督和制裁能提升福利，且结论对合理估计的监督成本稳健。
This article analyses the design of optimal unemployment insurance in a search equilibrium framework where search effort among the unemployed is not perfectly observable. We examine to what extent the optimal policy involves monitoring of search effort and benefit sanctions if observed search is deemed insufficient. We find that introducing monitoring and sanctions represents a welfare improvement for reasonable estimates of monitoring costs; this conclusion holds both relative to a system featuring indefinite payments of benefits and a system with a time limit on unemployment benefit receipt.