Casey B. Mulligan

in The Redistribution Recession

Published in print November 2012 | ISBN: 9780199942213
Published online January 2013 | e-ISBN: 9780199980772 | DOI:

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This chapter shows what would have happened to work hours per capita if redistribution had remained constant: their decline would have half, or less, than it actually was. Based on the evidence presented in previous chapters, it concludes that incentives still matter in the post-2007 labor market, that there were mutual feedback effects between financial markets and the social safety net. The chapter also refutes the claim that supply-induced recessions should be characterized as pleasant experiences for the unemployed, and explains why the safety net must be examined in its entirety.

Keywords: financial crisis; labor market; marginal tax rate; redistribution

Chapter.  4345 words.  Illustrated.

Subjects: Public Economics

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