The Impact of Unemployment Benefit Extensions on Employment: The 2014 Employment Miracle?
利用2013年底美国国会未能延长失业救济金政策导致的各州救济期限差异，发现救济期限大幅削减的州就业和劳动力增长加速，支持了内生就业创造的均衡搜寻理论。
We measure the aggregate effect of unemployment benefit duration on employment and the labor force. We exploit the variation induced by Congress' failure in December 2013 to reauthorize the unprecedented benefit extensions introduced during the Great Recession. Federal benefit extensions that ranged from 0 to 47 weeks across US states were abruptly cut to zero. In sharp contrast to their typical dynamics, labor force and employment growth accelerated sharply in states with larger cuts in benefit duration. These findings are consistent with the equilibrium search framework that assigns an important role to endogenous job creation.