Disemployment Effects of Unemployment Insurance: A Meta-Analysis

Jonathan Cohen and Peter Ganong

No 32832, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We systematically review studies of how unemployment benefits affect unemployment duration. Statistically significant findings are eight times more likely to be published. Correcting for publication bias cuts the average elasticity by a third. Meta-analysis is a data-driven way to aggregate estimates across policy contexts and generalize sufficient statistics methods to compute the global optimal policy. Although existing consumption drop-based approaches typically imply an optimal replacement rate near zero, our corrected estimates imply an optimal replacement rate of 28% in the US. We are unable to reject the hypothesis that the “micro” elasticity is equal to the “macro” elasticity.

JEL-codes: C13 E24 E64 J64 J65 (search for similar items in EconPapers)
Date: 2024-08
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Note: LS ME PE
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