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Aggregate Implications of Labor Market Distortions : The Recession of 2008-9 and Beyond

Mulligan, Casey B. - 2010

The aggregate neoclassical growth model - with a labor income tax or "labor market distortion" that began growing at the end of 2007 as its only impulse - produces time series for aggregate labor usage, consumption, investment, and real GDP that closely resemble actual U.S. time series. Of...

Persistent link: https://www.econbiz.de/10012462971

A Final Report Card on the States' Response to COVID-19

Kerpen, Phil; Moore, Stephen; Mulligan, Casey B. - National Bureau of Economic Research - 2022

Almost exactly two years ago COVID-19 spread to the United States. Following the federalism model, the 50 states and their governors and legislators made many of their own pandemic policy choices to mitigate the damage from the virus. States learned from one another over time about what policies...

Persistent link: https://www.econbiz.de/10013191023

Does Labor Supply Matter During a Recession? Evidence from the Seasonal Cycle

Mulligan, Casey B. - 2010

Every year has large demand and supply shifts associated with the seasons, regardless of the phase of the business cycle. Based on measures dating back to the 1940s, the seasonal shifts reject the hypotheses that demand shifts affect employment outcomes significantly more in recession years than...

Persistent link: https://www.econbiz.de/10012462299

A Depressing Scenario : Mortgage Debt Becomes Unemployment Insurance

Mulligan, Casey B. - 2008

When asset values fall, the owners of collateralized loans are not in an enviable position. Nonetheless, they possess a kind of monopoly power over their borrowers that they do not possess when borrowers are solvent. Lenders maximize profits by price discriminating, but create deadweight costs...

Persistent link: https://www.econbiz.de/10012464133

Currency Crisis and Unemployment : Sterling in 1931

Eichengreen, Barry - 1998

This paper studies the role of unemployment in sterling's interwar experience. According to most narrative accounts …, the proximate cause of the 1931 sterling crisis was a high and rising unemployment rate that placed pressure on British … currency crises, highlights the conflict between the objective of low unemployment and defense of the currency and show that it …

Persistent link: https://www.econbiz.de/10012472245

The ARRA : Some Unpleasant Welfare Arithmetic

Mulligan, Casey B. - 2012

foregone unemployment insurance about equally erode the rewards from retaining a job, or starting a new one …

Persistent link: https://www.econbiz.de/10012460070

Means-Tested Subsidies and Economic Performance Since 2007

Mulligan, Casey B. - 2011

The aggregate neoclassical growth model - with means-tested subsidies whose replacement rates began rising at the end of 2007 as its only impulse - produces time series for aggregate labor usage, consumption, investment, and real GDP that closely resemble actual U.S. time series. Despite having...

Persistent link: https://www.econbiz.de/10012461213

Household vs. Personal Accounts of the U.S. Labor Market, 1965-2000

Mulligan, Casey B. - 2004

The empirical labor supply literature includes some simple aggregate studies, and some individual-level studies explicitly accounting for heterogeneity and the discrete choice, but sometimes leaving open the ultimately aggregate questions that motivated the study. As a middle ground, we...

Persistent link: https://www.econbiz.de/10012468374

Labor Market Search and Optimal Retirement Policy

Bhattacharya, Joydeep - 2001

A popular view about social security, dating back to its early days of inception, is that it is a means for young, unemployed workers to 'purchase' jobs from older, employed workers. The question we ask is: Can social security, by encouraging retirement and hence creating job vacancies for the...

Persistent link: https://www.econbiz.de/10012470125

Wedges, Wages, and Productivity under the Affordable Care Act

Mulligan, Casey B. - 2013

Our paper documents the large labor market wedges created by taxes, subsidies, and regulations included in the Affordable Care Act. The law changes terms of trade in both goods and factor markets for firms offering health insurance coverage. We use a multi-sector (intra-national) trade model to...

Persistent link: https://www.econbiz.de/10012458892