Credit Markets and Unemployment in the Short Run and in the Long Run
AbstractThis paper examines the short run and long run responses of unemployment to credit and labor market shocks in a world in which both credit and labor market frictions keep the economy away from full employment. We examine the respective contributions to equilibrium unemployement of stochastic credit market frictions and of credit conditions. We examine the contrasting effects of financial liberalization in the short run and in the long run.[E44]
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Economic Journal.
Volume (Year): 15 (2001)
Issue (Month): 1 ()
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Other versions of this item:
- Philippe Weil, 2001. "Credit markets and unemployment in the short run and in the long run," ULB Institutional Repository 2013/13440, ULB -- Universite Libre de Bruxelles.
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