On Financial Frictions and Firm Market Power

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Unemployment, Financial Frictions, and the Housing Market

We develop and calibrate a two-sector, search-matching model of the labor market augmented to incorporate a housing market and a frictional goods market. The labor market is divided into a construction sector and a non-housing sector, and there is perfect mobility of unemployed workers across sectors. In the frictional goods market households, who lack commitment, …nance random consumption oppo...

متن کامل

Financial frictions, the housing market, and unemployment

We develop a two-sector search-matching model of the labor market with imperfect mobility of workers, augmented to incorporate a housing market and a frictional goods market. Homeowners use home equity as collateral to …nance idiosyncratic consumption opportunities. A …nancial innovation that raises the acceptability of homes as collateral raises house prices and reduces unemployment. It also t...

متن کامل

News shocks, expectation driven business cycles and financial market frictions

This paper explores the booms and busts induced by news shocks in a model economy with financial market frictions. Firms can accumulate capital through either purchase of the existing capital or producing new capital by themselves. Firms need to borrow from financial intermediaries to finance their purchases of capital. With the presence of financial market frictions, firms have to pay an exter...

متن کامل

Virtue of Bad Times and Financial Market Frictions

Schumpeter (1939) proposes that recessions have virtue in promoting growth-enhancing activities. However, this view is often at odds with data, as many innovative activities appear pro-cyclical. We revisit the “virtue of bad times”theoretically and empirically. Our theory suggests that recessions have such virtue only when the cyclicality of innovation’s marginal opportunity cost dominates that...

متن کامل

Financial frictions and shocks

This paper aims to quantify the extent to which sources of economic uctuations generate in the nancial markets. First, a novel identi cation method is introduced into a Bayesian VAR model in order to identify a nancial type shock which we refer to as a `risk news' shock. We identify the risk news shock in macroeconomic time series for the US, while simultaneously identifying other standard macr...

متن کامل

ذخیره 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: SSRN Electronic Journal

سال: 2019

ISSN: 1556-5068

DOI: 10.2139/ssrn.3434946