Replication data for: A Macroeconomic Approach to Optimal Unemployment Insurance: Applications

Pascal Michaillat, Camille Landais & Emmanuel Saez
In the United States, unemployment insurance (UI) is more generous when unemployment is high. This paper examines whether this policy is desirable. The optimal UI replacement rate is the Baily-Chetty replacement rate plus a correction term measuring the effect of UI on welfare through labor market tightness. Empirical evidence suggests that tightness is inefficiently low in slumps and inefficiently high in booms, and that an increase in UI raises tightness. Hence, the correction term is...
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