The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund
2018; RELX Group (Netherlands); Linguagem: Inglês
10.2139/ssrn.3137486
ISSN1556-5068
Autores Tópico(s)Fiscal Policy and Economic Growth
ResumoDownload This Paper Open PDF in Browser Add Paper to My Library Share: Permalink Using these links will ensure access to this page indefinitely Copy URL The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund 49 Pages Posted: 12 Mar 2018 See all articles by Damon JonesDamon JonesUniversity of Chicago - Harris School of Public PolicyIoana Elena MarinescuUniversity of Pennsylvania - School of Social Policy & Practice; National Bureau of Economic Research (NBER) There are 3 versions of this paper The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund Number of pages: 73 Posted: 22 Feb 2018 Last Revised: 06 Jan 2020 Downloads 2,714 The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund Number of pages: 49 Posted: 12 Mar 2018 You are currently viewing this paper Downloads 60 The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund Number of pages: 74 Posted: 08 Jun 2018 Downloads 52 Abstract What are the effects of universal and permanent cash transfers on the labor market? Since 1982, all Alaskan residents have been entitled to a yearly cash dividend from the Alaska Permanent Fund. Using data from the Current Population Survey and a synthetic control method, we show that the dividend had no effect on employment, and increased part-time work by 1.8 percentage points (17 percent). Although theory and prior empirical research suggests that individual cash transfers decrease household labor supply, we interpret our results as evidence that general equilibrium effects of widespread and permanent transfers tend to offset this effect, at least on the extensive margin. Consistent with this story, we show suggestive evidence that tradable sectors experience employment reductions, while non-tradable sectors do not. Overall, our results suggest that a universal and permanent cash transfer does not significantly decrease aggregate employment. Keywords: unconditional cash transfer, universal basic income, labor supply, employment JEL Classification: H24, I38, J21, J22 Suggested Citation: Suggested Citation Jones, Damon and Marinescu, Ioana Elena, The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund. Available at SSRN: https://ssrn.com/abstract=3137486 Damon Jones (Contact Author) University of Chicago - Harris School of Public Policy ( email ) 1155 East 60th StreetChicago, IL 60637United States Ioana Elena Marinescu University of Pennsylvania - School of Social Policy & Practice ( email ) 3701 Locust WalkPhiladelphia, PA 19104-6214United States National Bureau of Economic Research (NBER) ( email ) 1050 Massachusetts AvenueCambridge, MA 02138United States Download This Paper Open PDF in Browser Do you have a job opening that you would like to promote on SSRN? 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