Universal Basic Income: Inspecting the Mechanisms
通过模型分析不同全民基本收入方案及其融资方式，研究其对总量和分配的影响，发现主要负面效应是增税减少劳动力参与，部分替代现有福利可缓解但无法实现帕累托改进。
Abstract We examine the mechanisms driving the aggregate and distributional impacts of Universal Basic Income (UBI) through model analysis of various UBI programs and financing schemes. The main adverse effect is the distortionary tax increase to fund UBI, reducing labor force participation. Secondary channels are a decline in demand for self-insurance, depressing aggregate capital, and a positive income effect that further deters labor force participation. Due to these channels, introducing UBI alongside existing social programs reduces output and average welfare. Partially substituting existing programs with UBI mitigates the adverse effects, increases average welfare, but does not deliver a Pareto improvement.