| 000 | 02331nab a2200289 c 4500 | ||
|---|---|---|---|
| 999 |
_c142978 _d142978 |
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| 003 | ES-MaIEF | ||
| 005 | 20201014121332.0 | ||
| 007 | ta | ||
| 008 | 201014t2020 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 041 | _aeng | ||
| 100 | 1 |
_968448 _aLachowska, Marta |
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| 245 |
_aExperience rating and the dynamics of financing unemployment insurance _c Marta Lachowska, Wayne Vroman, and Stephen A. Woodbury |
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| 260 | _c2020 | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aThe surge of new claims for unemployment insurance (UI) following the COVID-19 pandemic is rapidly depleting states UI trust fund reserves. By early July, the trust funds of three of the four largest states (California, New York, and Texas) were already insolvent, requiring them to borrow to cover benefits. We first describe the condition of the states trust funds before the start of the pandemic-related recession and examine how the states different methods of financing UI were related to those conditions. States that indexed their UI payroll tax base to state average wages had reserves roughly twice those of states that did not index. We then analyze the dynamics of UI trust funds using vector autoregression. Our main finding is that, following a shock to benefit payments and the consequent drop in UI reserves, states reserves recover at different rates depending on their method of experience rating tax rates and whether they index their tax base. The trust funds of states using the most common type of UI financing, reserve-ratio experience rating and a fixed tax base, tend to require more than a decade to recover, whereas the trust funds of states using the benefit-ratio method tend to recover within five years whether or not they index. Federal legislation passed in March in response to the pandemic has implications for financing UI that we discuss in light of our findings. | ||
| 650 |
_aPANDEMIAS _967998 |
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| 650 |
_aCORONAVIRUS _967999 |
||
| 650 | 4 |
_aSEGURO DE DESEMPLEO _948379 |
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| 650 | 4 |
_aDEFICIT PUBLICO _941783 |
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| 650 | 4 |
_aESTADOS UNIDOS _942888 |
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| 700 | 1 |
_968449 _aVroman, Wayne |
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| 700 | 1 |
_968450 _aWoodbury, Stephen A. |
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| 773 | 0 |
_9163516 _oOP 233/2020/3 _tNational Tax Journal _w(IEF)86491 _x 0028-0283 _gv. 73, n. 3, September 2020, p. 673-698 |
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| 942 | _cART | ||