Showing 1 - 10 of 275
We exploit a policy discontinuity at U.S. state borders to identify the effects of unemployment insurance policies on … unemployment. Our estimates imply that most of the persistent increase in unemployment during the Great Recession can be accounted … for by the unprecedented extensions of unemployment benefit eligibility. In contrast to the existing recent literature …
Persistent link: https://www.econbiz.de/10010333564
(market-level effect) to changes in the duration of unemployment insurance (UI) benefits. To implement this approach, we …
Persistent link: https://www.econbiz.de/10012144748
Payday loans are widely condemned as a “predatory debt trap.” We test that claim by researching how households in Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with households in states where payday lending is permitted,...
Persistent link: https://www.econbiz.de/10010283492
We find evidence that the Federal Reserve stress tests (CCAR and DFAST) produce information about the stress-tested firms as well as other, non-stress-tested banking companies. Although standard event studies do not always show abnormal returns for the stress-tested sample on average, we argue...
Persistent link: https://www.econbiz.de/10011460649
We define predatory lending as a welfare-reducing provision of credit. Using a textbook model, we show that lenders profit if they can tempt households into “debt traps,” that is, overborrowing and delinquency. We then test whether payday lending fits our definition of predatory. We find...
Persistent link: https://www.econbiz.de/10010283443
unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the … recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new … one-third of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role …
Persistent link: https://www.econbiz.de/10010284232
A large and growing share of hires in the United States are replacement hires. This increase coincides with a growing productivity-wage gap. We connect these trends by building a model where firms post long-lived vacancies and engage in on-the-job search for more productive workers. These...
Persistent link: https://www.econbiz.de/10012144703
The unemployment gender gap, defined as the difference between female and male unemployment rates, was positive until … 1980. This gap virtually disappeared after 1980 - except during recessions, when men's unemployment rates always exceed … women's. We study the evolution of these gender differences in unemployment from a long-run perspective and over the …
Persistent link: https://www.econbiz.de/10010333571
This paper examines the causes of the observed increase in the average duration of unemployment over the past thirty … in the generosity and coverage of unemployment insurance. We find that changes in the composition of the labor force and … institutional changes can only partially account for the longer duration of unemployment. We construct a job search model and …
Persistent link: https://www.econbiz.de/10010283468
has not been a good predictor of whether the unemployment rate at the end of the expansion following a shift was higher or …
Persistent link: https://www.econbiz.de/10011340953