The effect of labor and financial frictions on aggregate fluctuations

The effect of labor and financial frictions on aggregate fluctuations

This paper embeds labor market search frictions into a New Keynesian model with financial frictions as in Bernanke, Gertler and Gilchrist (1999). The econometric estimation establishes that labor market frictions substantially improve the empirical fit of the model. The effect of the interaction b...

書誌詳細
主要な著者:	Zanetti, F, Mumtaz, H
フォーマット:	Working paper
出版事項:	University of Oxford 2013

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