| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15748 |
| DP15748 Whether, When and How to Extend Unemployment Benefits: Theory and Application to COVID-19 | |
| Kurt Mitman; Stanislav Rabinovich | |
| 发表日期 | 2021-02-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We investigate the optimal response of unemployment insurance to economic shocks, both with and without commitment. The optimal policy with commitment follows a modified Baily-Chetty formula that accounts for job search responses to future UI benefit changes. As a result, the optimal policy with commitment tends to front-load UI, unlike the optimal discretionary policy. In response to shocks intended to mimic those that induced the COVID-19 recession, we find that a large and transitory increase in UI is optimal; and that a policy rule contingent on the change in unemployment, rather than its level, is a good approximation to the optimal policy. |
| 主题 | Labour Economics ; Public Economics |
| 关键词 | Unemployment insurance Optimal policy Markov perfect equilibrium |
| URL | https://cepr.org/publications/dp15748 |
| 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/544751 |
| 推荐引用方式 GB/T 7714 | Kurt Mitman,Stanislav Rabinovich. DP15748 Whether, When and How to Extend Unemployment Benefits: Theory and Application to COVID-19. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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