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  1. Effects of credit supply on unemployment and inequality
    Erschienen: June 2016
    Verlag:  IZA, Bonn, Germany

    The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter... mehr

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4 (10006)
    keine Fernleihe

     

    The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter credit leads to lower output, lower number of vacancies, and higher directed-search unemployment. Where workers are more productive at higher levels of firm output, lower credit supply increases firm capital intensity, raises inequality by increasing the rental of capital relative to the wage, and has an ambiguous effect on welfare. At initial high levels of labor share in total costs tighter credit lowers welfare. This pattern reverses during an expansionary phase caused by higher credit availability.

     

    Export in Literaturverwaltung   RIS-Format
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    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/145140
    Schriftenreihe: Discussion paper / IZA ; no. 10006
    Schlagworte: Kreditrationierung; Beschäftigungseffekt; Konjunkturelle Arbeitslosigkeit; Arbeitsuche; Soziale Ungleichheit; Monopolistischer Wettbewerb; Wohlfahrtsanalyse; Theorie
    Umfang: 1 Online-Ressource (circa 26 Seiten)
  2. Effects of credit supply on unemployment and inequality
    Erschienen: June 2016
    Verlag:  Federal Reserve Bank of St. Louis, Research Division, St. Louis, MO

    The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter... mehr

    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    keine Fernleihe
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 65 (2016.13)
    keine Fernleihe

     

    The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter credit leads to lower output, lower number of vacancies, and higher directed-search unemployment. Where workers are more productive at higher levels of firm output, lower credit supply increases firm capital intensity, raises inequality by increasing the rental of capital relative to the wage, and has an ambiguous effect on welfare. At initial high levels of labor share in total costs tighter credit lowers welfare. This pattern reverses during an expansionary phase caused by higher credit availability

     

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper series / Research Division, Federal Reserve Bank of St. Louis ; 2016, 013A
    Schlagworte: Kreditrationierung; Beschäftigungseffekt; Konjunkturelle Arbeitslosigkeit; Arbeitsuche; Soziale Ungleichheit; Monopolistischer Wettbewerb; Wohlfahrtsanalyse; Theorie
    Umfang: 1 Online-Ressource (circa 25 Seiten)