Unemployment Effects of Stay-at-Home Orders: Evidence from High-Frequency Claims Data
成果类型：
Article
署名作者：
Baek, ChaeWon; McCrory, Peter B.; Messer, Todd; Mui, Preston
署名单位：
Tufts University; Federal Reserve System - USA; Federal Reserve System Board of Governors; University of California System; University of California Berkeley
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
DOI：
10.1162/rest_a_00996
发表日期：
2021-12
页码：
979-993
关键词：
us
摘要：
We use the high-frequency, decentralized implementation of stay-at-home (SAH) orders in the United States to disentangle the labor market effects of SAH orders from the general economic disruption wrought by the COVID-19 pandemic. We find that each week of SAH exposure increased a state's weekly initial unemployment insurance (UI) claims by 1.9% of its employment level relative to other states. A back-of-the-envelope calculation implies that of the 17 million UI claims between March 14 and April 4, only 4 million were attributable to SAH orders. We present a currency union model to provide conditions for mapping this estimate to aggregate employment losses.
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