000			01187nam a22001457a 4500
999			_c525531 _d525531
008			240320b ||||| |||| 00| 0 eng d
100			_aDaruich, Diego and Fernández, Raquel _950314
245			_aUniversal basic income: A dynamic assessment
260			_aThe American Economic Review
300			_a114(1), Jan, 2024: p.38-88
520			_aUniversal basic income (UBI) is an increasingly popular policy proposal, but there is no evidence regarding its longer-term consequences. We find that UBI generates large welfare losses in a general equilibrium model with imperfect capital markets, labor market shocks, and intergenerational linkages via skill formation and transfers. This conclusion is robust to various alternative ways of financing UBI. By using observationally equivalent models that eliminate different sources of endogenous dynamic linkages (equilibrium capital market and parental investment in child skills), we show that the latter are largely responsible for the negative welfare consequences.- Reproduced https://www.aeaweb.org/articles?id=10.1257/aer.20221099
773			_aThe American Economic Review
906			_aINCOME DISTRIBUTION
942			_cAR