|
|||||
|
|
JobKeeper: An Initial Assessment |
|
| Authors: | Jeff Borland Jennifer Hunt |
| Affiliation: | 1. The University of Melbourne;2. Rutgers University Borland, Department of Economics, The University of Melbourne;3. Hunt: Department of Economics, Rutgers University;4. School of Economics, University of Sydney (Research Affiliate);5. National Bureau of Economic Research. Corresponding author: Borland, email <6. jib@unimelb.edu.au>7. . |
| Abstract: | We present details of the design and implementation of the 2020–2021 JobKeeper program and review the literature on its impacts. JobKeeper stimulated the macroeconomy and restrained job loss in the downturn. But because the program was not narrowly targeted, the cost per job saved was high and the impact most likely regressive. However, it would not have been possible to devise and implement a more targeted program in the available time, and as it was, JobKeeper was arguably implemented later than needed for maximum effectiveness. We therefore recommend that Australia consider establishing a short-time work program for use in future recessions. |
| Keywords: | |