Acts of Congress and COVID-19: A Literature Review on the Impact of Increased Unemployment Insurance Benefits and Stimulus Checks

2020 ◽  
Author(s):  
Elena Falcettoni ◽  
Vegard M. Nygaard
Keyword(s):  
Literature Review ◽  
Unemployment Insurance ◽  
Insurance Benefits ◽  
The Impact

Acts of Congress and COVID-19: A Literature Review on the Impact of Increased Unemployment Insurance Benefits and Stimulus Checks

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2839) ◽  
Author(s):  
Elena Falcettoni ◽  
◽  
Vegard Nygaard ◽  
Keyword(s):  
Literature Review ◽  
Unemployment Insurance ◽  
Local Governments ◽  
Economic Security ◽  
Insurance Benefits ◽  
Business Loan ◽  
State And Local ◽  
The Impact ◽  
Aid Relief ◽  
Loan Forgiveness

Congress passed the first COVID-19 relief package for businesses and individuals in March 2020, when the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted, providing, among other things, one-time stimulus checks for individuals, extended unemployment insurance (UI) benefits, relief for state and local governments, liability protection, and the Paycheck Protection Program for small-business loan forgiveness.

Erratum

ILR Review ◽  
1979 ◽  
Vol 32 (4) ◽  
pp. 533-533
Author(s):  
John M. Barron ◽  
Otis W. Gilley
Keyword(s):  
Unemployment Insurance ◽  
Job Search ◽  
Search Process ◽  
Unemployment Benefits ◽  
Insurance Benefits ◽  
Search Intensity ◽  
Unemployment Spell ◽  
Disincentive Effect ◽  
The Impact ◽  
Job Search Intensity

The Impact of Unemployment Insurance on the Search Process A SERIOUS coding error in the data used in our recent article published in the April 1979 Review has been pointed out by Joe Stone of the Bureau of Labor Statistics. Our paper proposed a test of Mortensen's hy-pothesis that both future expected unem- ployment insurance benefits and benefits re-ceived during a current unemployment spell affect an individual's search intensity. Regression 1, which remains unchanged, still provides no support for Mortensen's proposed effect of unemployment insurance benefits to be received during the subse- quent unemployment spell on the current job-search intensity of the unemployed. Regression 3, which remains unchanged, still indicates a distortion in the search process-in particular in the methods of search chosen-for current recipients of unem- ployment insurance benefits and the un- employed who are eligible and have applied for these benefits. The error affects the results of the estimnation of Equation 2. It occurred because unemployed individuals who were eligible and had applied for benefits were assigned zero weeks left to receive these benefits rather than the maximum allowable duration of benefits according to the individual's state of residence. As a result, the value of unem- ployment insurance benefits for these individuals was inadvertently set equal to zero. Yet these individuals, other things equal, were shown in our original study to have a measured job-search intensity 74 percent higher than individuals currently receiving unemployment insurance, a difference related to the time involved in the ap- plication process rather than to actual job- search efforts. Reestimation of Equation 2 controlling for this effect and correcting for the measure- ment error in the value of unemployment benefits results in one important change. The coefficient on the value of unemployment insurance benefits, though still negative, is riot different from zero for standard significance levels. A serious consequence is that the traditional disincentive effect of unemployment insurance on search in- tensity is not supported by our test. One explanation for this finding may be that individuals with larger values of unemployment benefits have a greater incentive to overstate search intensity since such benefits are dependent on search activity.

The Impact of Unemployment Insurance Benefits on Reemployment Success

ILR Review ◽  
1976 ◽  
Vol 30 (1) ◽  
pp. 25 ◽  
Author(s):  
Paul L. Burgess ◽  
Jerry L. Kingston
Keyword(s):  
Unemployment Insurance ◽  
Insurance Benefits ◽  
The Impact

scholarly journals Reassessing the Effects of Extending Unemployment Insurance Benefits

2014 ◽  
pp. 1-6
Author(s):  
Pedro Amaral ◽  
Jessica Ice
Keyword(s):  
Unemployment Insurance ◽  
Unemployment Rate ◽  
Great Recession ◽  
Job Creation ◽  
Unemployment Benefits ◽  
Insurance Benefits ◽  
The Great Recession ◽  
High Level ◽  
The Impact ◽  
The Way

To deal with the high level of unemployment during the Great Recession, lawmakers extended the availability of unemployment benefits—all the way to 99 weeks in the states where unemployment was highest. A recent study has found that the extensions served to increase unemployment significantly by putting upward pressure on wages, leading to less jobs creation by firms. We replicate the methodology of this study with an updated and longer sample and find a much smaller impact. We estimate that the impact of extending benefits on unemployment through wages and job creation can, at its highest, account for only one-fourth of the increase in the unemployment rate; an impact that is much lower than other estimates in the literature.

The Impact of Unemployment Insurance Benefits on Reemployment Success

ILR Review ◽  
1976 ◽  
Vol 30 (1) ◽  
pp. 25-31 ◽  
Author(s):  
Paul L. Burgess ◽  
Jerry L. Kingston
Keyword(s):  
Unemployment Insurance ◽  
Insurance Benefits ◽  
The Impact
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