摘要：While there is a fairly broad consensus regarding the potential adverse effects of generous unemployment benefit insurance on steady-state employment, the short-term effects of benefit reforms are not well-established.This paper contributes to fill this gap by estimating impulse responses to benefit reform “shocks” identified for a panel of OECD countries.Findings indicate that although it takes time for unemployment benefit reforms to pay off, such reforms do not appear to entail any negative short-run effects.There is however some suggestive evidence that reducing unemployment benefits could have negative short-run effects in “bad times”.
关键词：Institutions ;Reforms ;Labor market ;Macroeconomic conditions ;Impulse response function
