The Importance of Unemployment Insurance as an Automatic Stabilizer
Marco Di Maggio, Amir Kermani
NBER Working Paper No. 22625
We assess the extent to which unemployment insurance (UI) serves as an automatic stabilizer to mitigate the economy's sensitivity to shocks. Using a local labor market design based on heterogeneity in local benefit generosity, we estimate that a one standard deviation increase in generosity attenuates the effect of adverse shocks on employment growth by 7% and on earnings growth by 6%. Consistent with a local demand channel, we find that consumption is less responsive to local labor demand shocks in counties with more generous benefits. Our analysis finds that the local fiscal multiplier of unemployment insurance expenditure is approximately 1.9.
附：原文链接
ps:愉快的假期结束了，开始学习和工作。。。
点击头像下方的“+加关注”可以第一时间了解我的资料更新，您的鼓励是我前进的动力！！！
扫码加好友，拉您进群
全部版块
我的主页
收藏
