Abstract
The aim of this paper is to analyze the effect that unemploymentbenefits – an instrument of social policy – have on incentives towork. It will start by discussing arguments that portray unemploymentbenefits as disincentives. It will continue by analyzingmore profoundly how benefits can serve as an instrument to increaseemployment and mitigate disincentives to work. Finally, itwill be shown that when taking into consideration the heterogeneityof elements shaping the unemployment benefit system andstructure, substantial replacement rates may contribute to increasingefficiency of labor market.
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