Hsu, Joanne W.; Matsa, David A.; Melzer, Brian T. - National Bureau of Economic Research (NBER) - 2014
This paper studies the impact of unemployment insurance (UI) on consumer credit markets. Exploiting heterogeneity in UI generosity across U.S. states and over time, we find that UI helps the unemployed avoid defaulting on their mortgage debt. We estimate that UI expansions during the Great...
