Financial crises are associated with severe economic contractions and lasting deteriorations in labor market conditions. Despite the close connection between financial crises and sustained rises in unemployment, few models incorporate both credit market and labor market frictions. The goal of this paper is to build one. The authors develop a tractable model with frictions in both credit and labor markets to study the aggregate and micro-level implications...
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INFORMATION
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2014/09/01
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Article de revue
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93753
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1
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1
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2015/01/22
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Disclosed
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Anatomy of a Credit Crunch : From Capital to Labor Markets
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entrepreneur
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