EFFICIENCY AND EQUALITY IN A SIMPLE-MODEL OF EFFICIENT UNEMPLOYMENT-INSURANCE
成果类型：
Article
署名作者：
ATKESON, A; LUCAS, RE
署名单位：
University of Chicago
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1995.1032
发表日期：
1995
页码：
64-88
关键词：
摘要：
This paper describes the efficient allocation of consumption and work effort in an economy in which workers face idiosyncratic employment risk and considerations of moral hazard prevent full insurance. We impose a lower bound on the expected discounted utility that can be assigned to any agent from any date onward and show with this feature added, that the efficient unemployment insurance scheme induces an invariant cross-sectional distribution of individual entitlements to utility. The paper thus provides a simple prototype model suited to the study of the nonnative question: what is the trade-off between equality and efficiency in resource allocation? Journal of Economic Literature Classification Numbers: D31, D63, D82, J65. (C) 1995 Academic Press, Inc.