全球智库信息集成服务系统(G2TT): The Importance of Unemployment Insurance as an Automatic Stabilizer

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22625
来源ID	Working Paper 22625
	The Importance of Unemployment Insurance as an Automatic Stabilizer
	Marco Di Maggio; Amir Kermani
发表日期	2016-09-12
出版年	2016
语种	英语
摘要	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.
主题	Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Public Economics ; National Fiscal Issues ; Labor Economics ; Unemployment and Immigration
URL	https://www.nber.org/papers/w22625
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/580298
推荐引用方式 GB/T 7714	Marco Di Maggio,Amir Kermani. The Importance of Unemployment Insurance as an Automatic Stabilizer. 2016.