| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17219 |
| DP17219 Welfare Cuts, Local Spillovers and Financial Fragility | |
| Manuel Adelino; Jim Goldman | |
| 发表日期 | 2022-04-13 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | This paper shows that shocks to social benefits have local multiplier effects that are borne primarily by economically fragile households. Using a large welfare reform in the UK, we document that recipients not only lose benefits income, but also experience a lower relative likelihood of employment following the cuts. Employment effects are concentrated in areas more severely affected by the cuts and in small firms in the non-tradable sector, suggesting that local demand spillovers are responsible for amplifying the initial shock. Affected households respond by increasing debt usage, are less likely to become homeowners after the reform and are more likely to experience financial distress. |
| 主题 | Financial Economics ; Public Economics |
| 关键词 | Austerity Employment Spillovers Household finance |
| URL | https://cepr.org/publications/dp17219 |
| 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/546218 |
| 推荐引用方式 GB/T 7714 | Manuel Adelino,Jim Goldman. DP17219 Welfare Cuts, Local Spillovers and Financial Fragility. 2022. |
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