EFFECTS OF EXTENDED UNEMPLOYMENT INSURANCE BENEFITS ON LABOR DYNAMICS

doi:10.1017/S1365100514000789

CORC > 上海财经大学 > 上海财经大学

	EFFECTS OF EXTENDED UNEMPLOYMENT INSURANCE BENEFITS ON LABOR DYNAMICS
	Faig, Miquel 1; Zhang, Min 2,3; Zhang, Shiny 1
刊名	MACROECONOMIC DYNAMICS
	2016-07
卷号	20 期号:5 页码:1174-1195
关键词	Unemployment Vacancies Unemployment Insurance Benefit Extensions Search and Matching
ISSN号	1365-1005
DOI	10.1017/S1365100514000789
英文摘要	We calculate that the extension of unemployment insurance benefits during downturns has significantly increased the variability of unemployment and vacancies in the United States. Taking this into account reduces the value of leisure necessary to match the wide labor market business cycles experienced in the United States using the Mortensen-Pissarides model. For this calculation, we analyze a version of the model where unemployment insurance benefits not only expire but must be earned with prior employment. With these features, we can calibrate the model to be consistent with unemployment responding strongly to productivity shocks and mildly to changes in unemployment insurance policies. Our preferred calibration predicts that the standard deviation of unemployment since 1945 would have fallen by around 37% if there had not been programs extending unemployment benefits during recessions. We also find that the enactment of the Emergency Unemployment Compensation program in 2008 increased the unemployment rate by 0.5 percentage points.
WOS研究方向	Business & Economics
语种	英语
出版者	CAMBRIDGE UNIV PRESS
WOS记录号	WOS:000379948200003
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1263]
专题	上海财经大学
通讯作者	Faig, Miquel
作者单位	1.Univ Toronto, 150 St George St, Toronto, ON M5S 3G7, Canada; 2.Shanghai Univ Finance & Econ, Shanghai, Peoples R China; 3.Minist Educ, Key Lab Math Econ SUFE, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Faig, Miquel,Zhang, Min,Zhang, Shiny. EFFECTS OF EXTENDED UNEMPLOYMENT INSURANCE BENEFITS ON LABOR DYNAMICS[J]. MACROECONOMIC DYNAMICS,2016,20(5):1174-1195.
APA	Faig, Miquel,Zhang, Min,&Zhang, Shiny.(2016).EFFECTS OF EXTENDED UNEMPLOYMENT INSURANCE BENEFITS ON LABOR DYNAMICS.MACROECONOMIC DYNAMICS,20(5),1174-1195.
MLA	Faig, Miquel,et al."EFFECTS OF EXTENDED UNEMPLOYMENT INSURANCE BENEFITS ON LABOR DYNAMICS".MACROECONOMIC DYNAMICS 20.5(2016):1174-1195.