Search Results
Showing results 1 to 10 of approximately 60.
(refine search)
Working Paper
The Jobs Effect of Ending Pandemic Unemployment Benefits: A State-Level Analysis
Arbogast, Iris; Dupor, Bill
(2023-02-08)
This paper uses the asynchronous cessation of emergency unemployment benefits (EUB) in 2021 to investigate the jobs impact of ending unemployment benefits. While some states stopped providing EUB in September, others stopped as early as June. Using the cessation month as an instrument, we estimate the effect on employment of reducing unemployment rolls. In the second month following a state’s program termination, for every 100 person reduction in beneficiaries, state employment causally increased by about 27 persons. The effect is statistically different from zero and robust to a wide array ...
Working Papers
, Paper 2022-010
Working Paper
Estimating Duration Dependence on Re-employment Wages When Reservation Wages Are Binding
Hernandez Martinez, Victor; Liu, Kaixin; Grice, Richard
(2023-09-25)
This paper documents a novel finding indicating that re-employment wages are elastic to the level of unemployment insurance (i.e., a binding reservation wage) and adapts the IV estimator for duration dependence in Schmieder et al. (2016) to account for this fact. Using administrative data from Spain, we find that unemployed workers lower their re-employment wages by 3 percent immediately after the exhaustion of unemployment insurance (UI) benefits. Workers’ characteristics and permanent unobserved heterogeneity cannot explain this. To estimate duration dependence, we extend the IV framework ...
Working Papers
, Paper 23-21
Working Paper
Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity
Birinci, Serdar; See, Kurt
(2021-11)
We document considerable scope of heterogeneity within the unemployed, especially when the unemployed are divided along eligibility and receipt of unemployment insurance (UI). We study the implications of this heterogeneity on UI’s insurance-incentive trade-off using a heterogeneous-agent job-search model capable of matching the wealth and income differences that distinguish UI recipients from non-recipients. Insurance benefits are larger for UI recipients who are predominantly wealth-poor. Meanwhile, incentive costs are nonmonotonic in wealth because the poorest individuals, who value ...
Working Papers
, Paper 2019-022
Working Paper
Using the Eye of the Storm to Predict the Wave of Covid-19 UI Claims
Seo, Boyoung; Butters, R. Andrew; Aaronson, Daniel; Brave, Scott A.; Sacks, Daniel
(2020-04-16)
We leverage an event-study research design focused on the seven costliest hurricanes to hit the US mainland since 2004 to identify the elasticity of unemployment insurance filings with respect to search intensity. Applying our elasticity estimate to the state-level Google Trends indexes for the topic “unemployment,” we show that out-of-sample forecasts made ahead of the official data releases for March 21 and 28 predicted to a large degree the extent of the Covid-19 related surge in the demand for unemployment insurance. In addition, we provide a robust assessment of the uncertainty ...
Working Paper Series
, Paper WP-2020-10
Working Paper
Unemployment Insurance during a Pandemic
Fang, Lei; Xie, Zoe; Nie, Jun
(2020-07-31)
The CARES Act implemented in response to the COVID-19 crisis dramatically increases the generosity of unemployment insurance (UI) benefits, triggering concerns about its substantial impact on unemployment. This paper combines a labor market search-matching model with the SIR-type infection dynamics to study the effects of CARES UI on both unemployment and infection. More generous UI policies create work disincentives and lead to higher unemployment, but they also reduce infection and save lives. Economic shutdown policies further amplify these effects of UI policies. Quantitatively, the CARES ...
FRB Atlanta Working Paper
, Paper 2020-13
Report
Unemployment Benefits and Unemployment in the Great Recession: The Role of Equilibrium Effects
Mitman, Kurt; Karahan, Fatih; Manovskii, Iourii; Hagedorn, Marcus
(2013-10-01)
Equilibrium labor market theory suggests that unemployment benefit extensions affect unemployment by impacting both job search decisions by the unemployed and job creation decisions by employers. The existing empirical literature focused on the former effect only. We develop a new methodology necessary to incorporate the measurement of the latter effect. Implementing this methodology in the data, we find that benefit extensions raise equilibrium wages and lead to a sharp contraction in vacancy creation and employment and a rise in unemployment.
Staff Reports
, Paper 646
Journal Article
How Does Informal Employment Affect the Design of Unemployment Insurance and Employment Protection?
Espino, Emilio; Sanchez, Juan M.
(2015)
The authors use a simple model to study the optimal design of unemployment insurance and employment protection. Workers are risk averse and face the possibility of unemployment. Firms are risk neutral and face random shocks to productivity. Workers can participate in a shadow economy, or informal sector. The model yields several lessons. First, countries should encourage formal employment to address the issue of informal employment. In extreme cases, such encouragement translates into high severance payments and negative payroll taxes. Along these same lines, unemployment payments cannot be ...
Review
, Volume 97
, Issue 2
Working Paper
Labor market transitions and the availability of unemployment insurance
Bradbury, Katharine L.
(2014-07-09)
Economists often expect unemployment insurance (UI) benefits to elevate unemployment rates because recipients may choose to remain unemployed in order to continue receiving benefits, instead of accepting a job or dropping out of the labor force. This paper uses individual data from the Current Population Survey for the period between 2005 and 2013 ? a period during which the federal government extended and then reduced the length of benefit availability to varying degrees in different states ? to investigate the influence of program parameters in the UI system on monthly transition rates of ...
Working Papers
, Paper 14-2
Discussion Paper
The CARES Act Unemployment Insurance Program during the COVID-19 Pandemic
Fang, Lei; Xie, Zoe; Nie, Jun
(2020-12-21)
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.
Policy Hub
, Paper 2020-16
Working Paper
Reconciling Unemployment Claims with Job Losses in the First Months of the COVID-19 Crisis
Price, Brendan M.; Ratner, David; Weingarden, Alison E.; Figura, Andrew; Cajner, Tomaz
(2020-07-17)
In the spring of 2020, many observers relied heavily on weekly initial claims for unemployment insurance benefits (UI) to estimate contemporaneous reductions in US employment induced by the COVID-19 pandemic. Though UI claims provided a timely, high-frequency window into mounting layoffs, the cumulative volume of initial claims filed through the May reference week substantially exceeded realized reductions in payroll employment and likely contributed to the historically large discrepancy between consensus expectations of further April-to-May job losses and the strong job gains reflected in ...
Finance and Economics Discussion Series
, Paper 2020-055
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of St. Louis 16 items
Board of Governors of the Federal Reserve System (U.S.) 8 items
Federal Reserve Bank of Atlanta 8 items
Federal Reserve Bank of Chicago 7 items
Federal Reserve Bank of Cleveland 6 items
Federal Reserve Bank of Minneapolis 5 items
Federal Reserve Bank of New York 3 items
Federal Reserve Bank of Kansas City 2 items
Federal Reserve Bank of San Francisco 2 items
Federal Reserve Bank of Boston 1 items
Federal Reserve Bank of Philadelphia 1 items
Federal Reserve Bank of Richmond 1 items
show more (7)
show less
FILTER BY Series
Working Papers 22 items
Finance and Economics Discussion Series 8 items
Working Paper Series 7 items
FRB Atlanta Working Paper 4 items
Policy Hub 3 items
Review 3 items
Staff Report 3 items
Staff Reports 3 items
Chicago Fed Letter 2 items
Economic Bulletin 1 items
Opportunity and Inclusive Growth Institute Working Papers 1 items
Policy Hub* 1 items
Research Working Paper 1 items
Working Paper 1 items
show more (9)
show less
FILTER BY Content Type
Working Paper 44 items
Report 6 items
Journal Article 5 items
Discussion Paper 3 items
Newsletter 2 items
FILTER BY Author
Xie, Zoe 9 items
Birinci, Serdar 8 items
See, Kurt 8 items
Nie, Jun 6 items
Fang, Lei 5 items
Larrimore, Jeff 4 items
Mitman, Kurt 4 items
Mortenson, Jacob 4 items
Splinter, David 4 items
Aaronson, Daniel 3 items
Arbogast, Iris 3 items
Brave, Scott A. 3 items
Butters, R. Andrew 3 items
Dupor, Bill 3 items
Espino, Emilio 3 items
Luduvice, Andre 3 items
Sanchez, Juan M. 3 items
Seo, Boyoung 3 items
de Souza, Gustavo 3 items
Cirelli, Fernando 2 items
Hernandez Martinez, Victor 2 items
Karahan, Fatih 2 items
Krolikowski, Pawel 2 items
Krueger, Dirk 2 items
Liu, Kaixin 2 items
Lunsford, Kurt Graden 2 items
Park, Youngmin 2 items
Perri, Fabrizio 2 items
Petrosky-Nadeau, Nicolas 2 items
Pugh, Thomas 2 items
Sacks, Daniel 2 items
Arslan, Yavuz 1 items
Audoly, Richard 1 items
Bradbury, Katharine L. 1 items
Cai, Zhifeng 1 items
Cajner, Tomaz 1 items
Chodorow-Reich, Gabriel 1 items
David, Joel M. 1 items
Degerli, Ahmet 1 items
Doniger, Cynthia L. 1 items
Faberman, R. Jason 1 items
Fabre, Alice 1 items
Figura, Andrew 1 items
Flaaen, Aaron 1 items
Grice, Richard 1 items
Hagedorn, Marcus 1 items
Heathcote, Jonathan 1 items
Heim, Bradley T. 1 items
Hornstein, Andreas 1 items
Ismail, Ali Haider 1 items
Kabaş, Gazi 1 items
Karabarbounis, Loukas 1 items
Karabarbounis, Marios 1 items
Kuka, Elira 1 items
Kurmann, Andre 1 items
Lale, Etienne 1 items
Manovskii, Iourii 1 items
McCoy, John 1 items
Michaud, Amanda M. 1 items
Monge-Naranjo, Alexander 1 items
Moore, Brendan 1 items
Pallage, Stéphane 1 items
Patel, Elena 1 items
Pei, Yun 1 items
Price, Brendan M. 1 items
Ramnath, Shanthi 1 items
Ratner, David 1 items
Sacks, Daniel W. 1 items
Shapiro, Matthew D. 1 items
Sorkin, Isaac 1 items
Stuart, Bryan 1 items
Ta, Lien 1 items
Valletta, Robert G. 1 items
Weingarden, Alison E. 1 items
Zimmermann, Christian 1 items
show more (70)
show less
FILTER BY Jel Classification
E24 35 items
J64 26 items
E32 10 items
J63 7 items
I38 5 items
D31 4 items
D82 4 items
E61 4 items
H53 4 items
J30 4 items
C53 3 items
H12 3 items
H55 3 items
J20 3 items
J31 3 items
E21 2 items
E27 2 items
H31 2 items
C32 1 items
D14 1 items
D42 1 items
D62 1 items
D7 1 items
D83 1 items
D86 1 items
E62 1 items
G21 1 items
H20 1 items
H21 1 items
H23 1 items
H5 1 items
H72 1 items
I13 1 items
I18 1 items
I22 1 items
I26 1 items
I28 1 items
J00 1 items
J15 1 items
J21 1 items
J22 1 items
J26 1 items
J40 1 items
J42 1 items
K31 1 items
show more (41)
show less
FILTER BY Keywords
unemployment insurance 44 items
COVID-19 19 items
unemployment 17 items
Job Search 9 items
CARES Act 7 items
Business Cycles 6 items
employment 5 items
Countercyclical policy 4 items
Stimulus checks 4 items
search 4 items
Wages 4 items
Earnings 3 items
Government transfers 3 items
Optimal UI 3 items
UI Eligibility 3 items
hurricanes 3 items
labor markets 3 items
unemployment benefits 3 items
Google Trends 3 items
Moral Hazard 3 items
earnings losses 3 items
fiscal policy 3 items
quits 3 items
Social Insurance 3 items
Fiscal Policy and Household Behavior 2 items
Incomplete Markets 2 items
Informality 2 items
Mexico 2 items
UISA 2 items
employer effects 2 items
job displacement 2 items
layoffs 2 items
mass layoffs 2 items
minimum past earning requirement 2 items
pandemic emergency unemployment benefits 2 items
savings accounts 2 items
search and matching 2 items
search and matching models 2 items
vacancies 2 items
Job acceptance 2 items
WARN Act 2 items
Wealth Inequality 2 items
Bank funding 1 items
Bank lending 1 items
Business cycle 1 items
Consumption Smoothing 1 items
Directed search 1 items
Disincentive Effects 1 items
Economic indicators 1 items
Emergency unemployment benefits 1 items
Great Recession 1 items
Great Resignation 1 items
Health insurance 1 items
Heterogeneous agents 1 items
Idiosyncratic shocks 1 items
Information friction 1 items
Job Losses 1 items
Job loss 1 items
Labor 1 items
Labor supply 1 items
Liquidity Constraints 1 items
Measurement error 1 items
Medicaid expansion 1 items
Monopsony 1 items
PUA 1 items
Pandemic 1 items
Random search 1 items
Reallocation 1 items
Recessions 1 items
Spillover 1 items
Universal basic income 1 items
Wage earnings 1 items
Wage posting 1 items
Welfare loss from recessions 1 items
duration dependence 1 items
dynamic factor models 1 items
earnings dynamics 1 items
federal benefit extensions 1 items
frailty index 1 items
health 1 items
initial UI claims. 1 items
labor force participation 1 items
life cycle profiles 1 items
matching 1 items
pandemic emergency unemployment insurance 1 items
pandemic unemployment assistance 1 items
plant closings 1 items
precautionary savings 1 items
racial inequality 1 items
re-employment wages 1 items
search effort 1 items
search intensity 1 items
self-employment 1 items
take-up 1 items
time-consistent policy 1 items
unemployment insurance benefits 1 items
show more (110)
show less