| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060030 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠The optimal UI for a standard heterogeneous-agent macroeconomic model is computed. ⺠Monte Carlo methods are applied for considering 1,000 different calibrations. ⺠The sampling distribution of the optimal UI is bimodal. ⺠Often, the optimal UI does not decrease considerably with the level of moral hazard. ⺠Only three parameters have a first order effect on the welfare measure.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Marco Cozzi,