Financial crises and labor market turbulence
نویسندگان
چکیده
منابع مشابه
Financial Factors and Labor Market Fluctuations (Preliminary)
What are the effects of financial market imperfections on the fluctuations in unemployment and vacancies in the labor market? Standard DSGE models are silent about this since they have not modeled unemployment directly. In this paper I augment a standard monetary DSGE model with explicit financial and labor market frictions. The financial frictions are modeled as Bernanke, Gertler and Gilchrist...
متن کاملFinancial Shocks and Labor Market Fluctuations
This paper investigates the e¤ect of nancial shocks using an estimated general equilibrium model that links the rms ows of nancing with labor market variables. The results show that nancial shocks have sizeable e¤ects on nancial variables, vacancy posting, unemployment and wages. Shocks to the job destruction rate are important in describing uctuations in output and unemployment. The an...
متن کاملFinancial Crises and Political Crises∗
The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
متن کاملDeterminants of Bonanza Episodes and Related Effects on Financial Crises in Emerging Market Countries
Although capital inflows affect positively economies in long-run, it is possible to generate somehow destructive effects if there is no any control on financial markets. This study tries to explore main determinants of large capital inflows episodes to emerging markets. It is also investigated whether the large capital inflows episodes lead to financial crises in forms of sudden stop phenomenon...
متن کاملSectoral transformation , turbulence , and labor market dynamics in Germany
Sectoral Transformation, Turbulence, and Labor Market Dynamics in Germany This paper analyzes the interaction between structural change and labor market dynamics in West Germany, during a period in which industrial employment declined by more than 30% and service sector employment more than doubled. Using transition data on individual workers, we document a marked increase in structural change ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2011
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2011.10.009