Should Unemployment Insurance Vary With the Unemployment Rate? Theory and Evidence
---- Acknowledgments ----
We thank Joe Altonji, Judy Chevalier, Jonathan Guryan, Erzo Luttmer, Andrew Metrick, Giuseppe Moscarini, Fiona Scott Morton, and seminar participants at Chicago Booth, Federal Reserve Bank of Philadelphia, Harvard, LSE, MIT, NBER, University of Texas at Austin, University of Toronto, Wisconsin, and Yale for providing excellent comments. We thank Jesse Burkhardt and Christian Goldammer for providing outstanding research assistance. Notowidigdo gratefully acknowledges the National Institute of Aging (NIA grant number T32-AG000186) for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.