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KMID : 1124020110270010088
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Korean Social Security Studies
2011 Volume.27 No. 1 p.88 ~ p.103
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The Impact of the Policy Change in Reemployment Bonuses in 2006 on Insured Unemployment
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Kim Dong-Heon
Park Hyuck
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Abstract
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There has been great changes in the reemployment bonus program in the employment insurance system since 2004. Especially in 2006, by providing differential bonus amounts based on the speed of reemployment of qualified recipients, there has been no change in qualification for a bonus but de facto increases in reemployment bonus amounts. In this paper, using recent employment insurance DB data, we analyze the impact of the policy change in reemployment bonuses in 2006 on the spell of insured unemployment and a cost-benefit analysis. Our analysis shows that, due to the program change in 2006, the spell of insured unemployment has been shortened by about 15.9 days. However, according to a simple cost-benefit analysis, the policy change has not produced cost- effective results, that is, results contributing to the decrease in overall expenditure costs of unemployment benefits.
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KEYWORD
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employment insurance, unemployment benefits, reemployment bonus, policy change, insured unemployment
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