본문 내용으로 건더뛰기

모바일 대메뉴명

KDI 경제정보센터

KDI 경제정보센터의 다양한
경제정책정보를 만나 보세요.

최신자료

Unemployment Insurance in Macroeconomic Stabilization
NBER 2021.11.30 원문보기
I study unemployment insurance (UI) in general equilibrium with incomplete markets, search frictions, and nominal rigidities. An increase in generosity raises the aggregate demand for consumption if the unemployed have a higher marginal propensity to consume (MPC) than the employed or if agents precautionary save in light of future income risk. This raises output and employment unless monetary policy raises the nominal interest rate. In an analysis of the U.S. economy over 2008-2014, UI benefit extensions had a contemporaneous output multiplier around 1 or higher. The unemployment rate would have been as much as 0.4pp higher absent these extensions.
KDI 경제정보센터