Universal Basic Income: A Dynamic Assessments

• 成果类型: Article
• 署名作者: Daruich, Diego; Fernandez, Raquel
• 署名单位: New York University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; IZA Institute Labor Economics
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20221099
• 发表日期: 2024
• 页码: 38-88
• 关键词: child achievement evidence; education subsidies; college enrollment; family income; tax credit; taxation; redistribution; INEQUALITY; IMPACT; constraints

摘要

Universal basic income (UBI) is an increasingly popular policy proposal, but there is no evidence regarding its longer-term consequences. We find that UBI generates large welfare losses in a genshocks, and intergenerational linkages via skill formation and transfers. This conclusion is robust to various alternative ways of financing UBI. By using observationally equivalent models that eliminate different sources of endogenous dynamic linkages (equilibrium capital market and parental investment in child skills), we show that the latter are largely responsible for the negative welfare consequences.