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Universal Basic Income Versus Unemployment Insurance

A dynamic equilibrium model of the economy is used to compare unemployment insurance with universal basic income. Using data from 1990 - 2011, they find that UI beats out UBI for insurance purposes, primarily because it's better targeted to those in need. The question remains whether UBI is better suited to replace other welfare programs, such as income-assistance programs.

2014

Academic Paper

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In the state of Oregon, the cost of running the unemployment agency is about $500 per unemployed person per year. Unemployment insurance is a more effective insurance program against shocks than UBI. The introduction of a small UBI does not cancel out the value of unemployment insurance.
Christian Zimmermann Stéphane Pallage Alice Fabre
Basic Income
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