| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16993 |
| DP16993 How do transfers and universal basic income impact the labor market and inequality? | |
| Christopher Rauh; Marcelo Rodrigues dos Santos | |
| 发表日期 | 2022-02-02 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | This paper studies the impact of existing and universal transfer programs on vacancy creation, wages, and welfare using a search-and-matching model with heterogeneous agents and on-the-job human capital accumulation. We calibrate the general equilibrium model to match key moments concerning unemployment, wage and wealth distributions, as well as the distribution of EITC and transfers. In addition, unemployment insurance benefits are related to pre-unemployment earnings and subject to exhaustion, after which agents can only rely on transfers and savings. First, we show that existing transfers hamper economic activity but provide sizeable welfare gains. Next, we show that a universal basic income of nearly $12,500 to each household per year, which replaces all existing transfer programs and unemployment benefits, can lead to small aggregate welfare gains. These welfare gains mostly accrue to less skilled individuals despite their sizable fall in wages, and the overall rise in skill premia and wage inequality. Albeit the extra burden of higher taxes to finance UBI, we show that the increased action in hiring is a key channel though which outcomes for low education groups improve with the reform. However, if we keep the UI benefits in place, the positive effects on job creation vanish and UBI does not improve upon the current system. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Consumption inequality Universal basic income General equilibrium Inequality Wealth inequality Unemployment benefits |
| URL | https://cepr.org/publications/dp16993 |
| 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/545939 |
| 推荐引用方式 GB/T 7714 | Christopher Rauh,Marcelo Rodrigues dos Santos. DP16993 How do transfers and universal basic income impact the labor market and inequality?. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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