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220928 ||| eng |
| 020 |
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|a 9781513572680
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| 100 |
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|a Hellwig, Klaus-Peter
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| 245 |
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|a Supply and Demand Effects of Unemployment Insurance Benefit Extensions: Evidence from U.S. Counties
|c Klaus-Peter Hellwig
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2021
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| 300 |
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|a 35 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Unemployment Insurance
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Economics
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| 653 |
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|a Labour
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| 653 |
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|a Financial crises
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| 653 |
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|a Mobility, Unemployment, and Vacancies: Public Policy
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| 653 |
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|a Unemployment: Models, Duration, Incidence, and Job Search
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| 653 |
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|a Economics: General
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Unemployment
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| 653 |
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|a Labor markets
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| 653 |
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|a Aggregate Labor Productivity
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| 653 |
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|a Informal sector
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| 653 |
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|a Economic sectors
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| 653 |
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|a Demand and Supply of Labor: General
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| 653 |
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|a Aggregate Human Capital
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| 653 |
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|a Labor
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Severance Pay
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| 653 |
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|a Currency crises
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| 653 |
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|a Labor Economics: General
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| 653 |
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|a Plant Closings
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| 653 |
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|a International Economics
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| 653 |
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|a Labor market
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Wages
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| 653 |
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|a Unemployment rate
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| 653 |
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|a Economic theory
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| 653 |
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|a Intergenerational Income Distribution
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| 653 |
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|a Income economics
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| 653 |
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|a Employment
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| 653 |
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|a Labor economics
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781513572680.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2021/070/001.2021.issue-070-en.xml?cid=50112-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a I use three decades of county-level data to estimate the effects of federal unemployment benefit extensions on economic activity. To overcome the reverse causality coming from the fact that benefit extensions are a function of state unemployment rates, I only use the within-state variation in outcomes to identify treatment effects. Identification rests on a differences-in-differences approach which exploits heterogeneity in county exposure to policy changes. To distinguish demand and supply-side channels, I estimate the model separately for tradable and non-tradable sectors. Finally I use benefit extensions as an instrument to estimate local fiscal multipliers of unemployment benefit transfers. I find (i) that the overall impact of benefit extensions on activity is positive, pointing to strong demand effects; (ii) that, even in tradable sectors, there are no negative supply-side effects from work disincentives; and (iii) a fiscal multiplier estimate of 1.92, similar to estimates in the literature for other types of spending
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