| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20353 |
| 来源ID | Working Paper 20353 |
| Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit | |
| Joanne W. Hsu; David A. Matsa; Brian T. Melzer | |
| 发表日期 | 2014-07-31 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper studies the impact of unemployment insurance (UI) on consumer credit markets. Exploiting heterogeneity in UI generosity across U.S. states and over time, we find that UI helps the unemployed avoid defaulting on their mortgage debt. We estimate that UI expansions during the Great Recession prevented about 1.4 million foreclosures. Lenders respond to this decline in default risk by expanding credit access and reducing interest rates for low-income households at risk of being laid off. Our findings call attention to two benefits of unemployment insurance not previously highlighted: reducing deadweight losses from loan default and expanding access to credit. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions ; Public Economics ; Taxation ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w20353 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578026 |
| 推荐引用方式 GB/T 7714 | Joanne W. Hsu,David A. Matsa,Brian T. Melzer. Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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