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dc.contributor.authorLaun, Tobiasen
dc.date.accessioned2012-03-21-
dc.date.accessioned2012-03-28T13:04:14Z-
dc.date.available2012-03-28T13:04:14Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/56134-
dc.description.abstractThis paper analyzes optimal insurance against unemployment and disability in a private information economy with endogenous health and search effort. Individuals can reduce the probability of becoming disabled by exerting, so-called, prevention effort, which is costly in terms of utility. A healthy, i.e., not disabled, individual either works or is unemployed. An unemployed individual can exert search effort in order to increase the probability of finding a new job. I show that the optimal sequence of consumption is increasing for a working individual and constant for a disabled individual. During unemployment, decreasing benefits are not necessarily optimal in this setting. The prevention constraint implies increasing benefits over time while the search constraint demands decreasing benefits while being unemployed. However, if individuals respond sufficiently much to search incentives, the latter effect dominates the former and the optimal consumption sequence is decreasing during unemployment.en
dc.language.isoengen
dc.publisher|aStockholm School of Economics, The Economic Research Institute (EFI) |cStockholmen
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x742en
dc.subject.jelD86en
dc.subject.jelE24en
dc.subject.jelH53en
dc.subject.jelJ65en
dc.subject.ddc330en
dc.subject.keywordUnemployment insuranceen
dc.subject.keywordDisability insuranceen
dc.subject.keywordOptimal contractsen
dc.subject.stwArbeitslosenversicherungen
dc.subject.stwErwerbsunfähigkeitsrenteen
dc.subject.stwVertragstheorieen
dc.titleOptimal social insurance with endogenous health-
dc.typeWorking Paperen
dc.identifier.ppn688947050en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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