Financial shocks, job destruction shocks, and labor market fluctuations
This paper investigates the effect of financial shocks using a general equilibrium model that links the firm's flows of financing with labor market variables. The results show that financial shocks have sizeable effects on debt, dividend payout, and wages. Shocks to the job destruction rate are...
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| フォーマット: | Journal article |
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Cambridge University Press
2017
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