Can the Unemployed Borrow? Implications for Public Insurance (Record no. 134473)

MARC details
000 -LEADER
fixed length control field 01335nas a2200205Ia 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 241107c99999999xx |||||||||||| ||und||
022 ## - INTERNATIONAL STANDARD SERIAL NUMBER
International Standard Serial Number 0022-3808
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Braxton, J. Carter
9 (RLIN) 123266
245 #0 - TITLE STATEMENT
Title Can the Unemployed Borrow? Implications for Public Insurance
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Journal of Political Economy
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 2024
300 ## - PHYSICAL DESCRIPTION
Extent 3025-3076
520 ## - SUMMARY, ETC.
Abstract We empirically establish that unemployed individuals maintain significant access to credit and that upon a layoff, the unconstrained borrow while the constrained default and delever. Motivated by these findings, we develop a theory of credit lines and labor income risk to analyze optimal transfers to the unemployed. Since credit lines offer fixed interest rates and limits, credit lines are unresponsive to layoffs and provide greater consumption insurance relative to when debt is repriced period by period. At US levels of credit lines, the government can optimally reduce transfers to the unemployed, whereas this is not true when debt is counterfactually repriced period by period.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Labor Income Risk
9 (RLIN) 123267
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Unemployed Borrow
9 (RLIN) 123268
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Public Insurance
9 (RLIN) 123269
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Herkenhoff, Kyle
9 (RLIN) 123270
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name M. Phillips, Gordon
9 (RLIN) 123271
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.journals.uchicago.edu/doi/10.1086/729583">https://www.journals.uchicago.edu/doi/10.1086/729583</a>
999 ## - SYSTEM CONTROL NUMBERS (KOHA)
Koha biblionumber 134473
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Withdrawn status Lost status Damaged status Not for loan Home library Current library Date acquired Serial Enumeration / chronology Total Checkouts Barcode Date last seen Price effective from Koha item type
        Dr VKRV Rao Library Dr VKRV Rao Library 07/11/2024 Vol. 132, No. 9   AI744 07/11/2024 07/11/2024 Article Index