IDEAS home Printed from https://ideas.repec.org/a/fip/fedcec/98962.html
   My bibliography  Save this article

How Insured Are Workers Against Unemployment? Unemployment Insurance and the Distribution of Liquid Wealth

Author

Abstract

In this Economic Commentary, we analyze the relationship between unemployment insurance (UI) recipiency and insurance by examining the wealth distribution of workers who have been through an unemployment spell. We focus on the net liquid wealth gap between recipients and nonrecipients of UI along the income distribution of the unemployed. Using recent data from the Survey of Income and Program Participation at the individual level, we estimate that UI recipients at the bottom half of the income distribution tend to have higher median net liquid wealth than nonrecipients, putting nonrecipients in a potentially vulnerable economic position during periods of unemployment.

Suggested Citation

  • Andre Luduvice & Anaya Truss-Williams, 2024. "How Insured Are Workers Against Unemployment? Unemployment Insurance and the Distribution of Liquid Wealth," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2024(16), pages 1-8, October.
    • Handle: RePEc:fip:fedcec:98962
    DOI: 10.26509/frbc-ec-202416
    Note: Replication codes for this paper are available at https://github.com/avdluduvice/LuduviceTruss-Williams_UI.; See appendix.
    as

    Download full text from publisher

    File URL: https://doi.org/10.26509/frbc-ec-202416
    File Function: Persistent link with full text.
    Download Restriction: no
    File URL: https://www.clevelandfed.org/-/media/project/clevelandfedtenant/clevelandfedsite/publications/economic-commentary/2024/ec-202416-unemployment-insurance-and-distribution-of-liquid-wealth/ec202416-appendices.pdf
    File Function: Appendix.
    Download Restriction: no
    File URL: https://libkey.io/10.26509/frbc-ec-202416?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcec:98962. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.