| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14915 |
| DP14915 Optimal Unemployment Benefits in the Pandemic | |
| Kurt Mitman; Stanislav Rabinovich | |
| 发表日期 | 2020-06-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | How should unemployment benefits vary in response to the economic crisis induced by the COVID-19 pandemic? We answer this question by computing the optimal unem- ployment insurance response to the COVID-induced recession. We compare the optimal policy to the provisions under the CARES Act—which substantially expanded unemployment insurance and sparked an ongoing debate over further increases—and several alternative scenarios. We find that it is optimal first to raise unemployment benefits but then to begin lowering them as the economy starts to reopen — despite unemployment remaining high. We also find that the $600 UI supplement payment implemented under CARES was close to the optimal policy. Extending this UI supplement for another six months would hamper the recovery and reduce welfare. On the other hand, a UI extension combined with a re-employment bonus would further increase welfare compared to CARES alone, with only minimal effects on unemployment. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Covid-19 Epidemic Unemployment insurance Optimal policy |
| URL | https://cepr.org/publications/dp14915 |
| 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/543856 |
| 推荐引用方式 GB/T 7714 | Kurt Mitman,Stanislav Rabinovich. DP14915 Optimal Unemployment Benefits in the Pandemic. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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