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BUDGET PERSPECTIVES 2021, PAPER 1, April 2020. THE POTENTIAL COSTS AND DISTRIBUTIONAL EFFECT OF COVID-19. RELATED EMPLOYMENT IN IRELAND

Beirnea, Keelan and Doorley, Karnia and Regen, Mark and Tuda, Dora and Roantree, Barra (2020) BUDGET PERSPECTIVES 2021, PAPER 1, April 2020. THE POTENTIAL COSTS AND DISTRIBUTIONAL EFFECT OF COVID-19. RELATED EMPLOYMENT IN IRELAND. [Policy Paper]

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    Abstract

    This paper simulates the impact that Covid-19 related job losses will have on family incomes and the public finances. It finds that in the central ‘medium’ unemployment scenario of 600,000 job losses, around 400,000 families will see their disposable income fall by more than 20 per cent in the absence of policy changes, with proportionately larger losses for those in higher income families. Measures announced by the Government – notably the flat-rate Pandemic Unemployment Payment of €350 per week – reduce the numbers exposed to such extreme losses by about a third, but at significant cost to the Exchequer. The paper also finds that the additional cost of the Government’s Temporary Wage Subsidy Scheme may be minimal, in part because its current design is less generous to lower earners than the Pandemic Unemployment Payment they would receive if laid off.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > employment/labour market
    Countries > Ireland
    EU policies and themes > Policies & related activities > budgets & financing
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Budget Perspectives
    Depositing User: Daniel Pennell
    Official EU Document: No
    Language: English
    Date Deposited: 15 May 2020 17:15
    Number of Pages: 25
    Last Modified: 15 May 2020 17:15
    URI: http://aei.pitt.edu/id/eprint/102744

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