
(AGENPARL) – OTTAWA gio 13 aprile 2023 This paper studies how unsecured consumer credit impacts the extent to which unemployment insurance (UI) policies smooth aggregate consumption fluctuations over the business cycle. Using a general equilibrium real business cycle model, I find that unsecured credit amplifies the extent to which UI smooths cyclical consumption fluctuations.
Fonte/Source: https://www.bankofcanada.ca/2023/04/staff-working-paper-2023-22/