This paper studies how unemployment benefits affect aggregate outcomes through general equilibrium effects. First, we document that lower unemployment benefits tend to reduce the real interest rate in a structural vector autoregression with narrative sign restrictions. Young workers experience...

In this paper, we discuss bequests and other intergenerational transfers and what impact they have on the consumption, saving, and labor supply behavior of households. We show that bequests and other intergenerational transfers are prevalent in most countries, that they are sometimes motivated...