Seminarios

El Departamento de Economía de la Universidad de Chile tiene el agrado de invitar a usted a un nuevo Seminario Académico:

Título “Unemployment Benefits and Unemployment in the Great Reccession: The Role of Macro Effects”

Autor: Marcus Hagedorn ( University of Oslo), Fatih Karahan (Federal Reserve Bank of New York), Lourii Manovskii ( University of Pennsylvania) y Kurt Mitman (Institute for International Economic Studies, Stockholm University).

Presenta: Fatih Karahan

Se ruega confirmar asistencia al mail: pamela.fuentes@econ.uchile.cl

Abstract

We exploit a policy discontinuity at U.S. state borders to identify the labor market implications of unemployment benefit extensions. In contrast to the existing literature that focused on estimating the effects of benefit duration on job search decisions by the unemployed – the micro effect – we are guided by equilibrium labor market theory and focus on measuring the general equilibrium macro effect that operates through the response of job creation to benefit extensions. After developing a new methodology to measure the macro effect, we find that it is this effect that is very important quantitatively. In particular, benefit extensions raise equilibrium wages and lead to a sharp contraction in vacancy creation, employment, and a rise in unemployment.

El  Seminario  se realizará el martes 14 de abril de 13:00 a 14:00 hrs, en  la Sala P-201 Segundo Piso del edificio Placa de la Facultad de Economía y Negocios de la Universidad de Chile, ubicada en Diagonal Paraguay 257.