FRB,FEDS Paper: Unemployment Insurance and Macro-Financial (In)Stability
FEDS Paper: Unemployment Insurance and Macro-Financial (In)Stability Published: 2024-11-12 15:30 Abstract This paper explores the macroeconomic and financial stability implications of unemployment insurance (UI) programs. We first provide a stylized model that illustrates how UI can increase aggregate demand and reduce the persistence of unemployment shocks. We then use a large-scale macroeconomic model to estimate … Read more