A quantitative analysis of unemployment benefit extensions
成果类型：
Article
署名作者：
Nakajima, Makoto
署名单位：
Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2012.09.005
发表日期：
2012
页码：
686-702
关键词：
摘要：
Extensions of unemployment insurance (UI) benefits have been implemented in response to the Great Recession. This paper measures the effect of these extensions on the unemployment rate using a calibrated structural model featuring job search and consumption-saving decisions, skill depreciation, and Ul eligibility. The ongoing Ul benefit extensions are found to have raised the unemployment rate by 1.4 percentage points, which is about 30% of the observed increase since 2007. Moreover, the contribution of the Ul benefit extensions to the elevated unemployment rate increased during 2009-2011; while the number of vacancies recovered, the successive extensions kept search intensity down. (C) 2012 Elsevier B.V. All rights reserved.
来源URL：