| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16125 |
| DP16125 Assessing the (De)Stabilizing Effects of Unemployment Benefit Extensions | |
| Antonella Trigari; Alexey Gorn | |
| 发表日期 | 2021-05-07 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We study the stabilizing role of unemployment benefit extensions. We develop a tractable quantitative model with heterogeneous agents, search frictions, and nominal rigidities. The model allows for both a stabilizing aggregate demand channel and a destabilizing labor market channel of unemployment insurance. We characterize analytically the workings of each channel. Stabilizing aggregate demand effects marginally prevail in the U.S. economy and the unprecedented benefit extensions introduced during the Great Recession played a limited role for unemployment dynamics. Instead, unemployment from the model tracks actual unemployment with a combination of labor market shocks and a shock to the consumers' borrowing capacity. |
| 主题 | Labour Economics ; Monetary Economics and Fluctuations |
| 关键词 | Unemployment insurance Cyclical benefit extensions Heterogeneous agents Redistribution Precautionary motives Opportunity cost of employment Nominal rigidities Search frictions |
| URL | https://cepr.org/publications/dp16125 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545099 |
| 推荐引用方式 GB/T 7714 | Antonella Trigari,Alexey Gorn. DP16125 Assessing the (De)Stabilizing Effects of Unemployment Benefit Extensions. 2021. |
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