The CARES Act Unemployment Insurance Program during the COVID-19 Pandemic
Abstract: The outbreak of COVID-19 led to widespread shutdowns in March and April 2020 and an historically unprecedented increase in the generosity of unemployment insurance (UI) through the CARES Act. This article summarizes the key policy-relevant results from Fang, Nie, and Xie (2020), whose research examines the interactions of virus infection risk, shutdown policy, and increased UI generosity.
Keywords: COVID-19; CARES Act; unemployment insurance;
JEL Classification: J64; J65; E24;
Provider: Federal Reserve Bank of Atlanta
Part of Series: Policy Hub
Publication Date: 2020-12-21