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 InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/13440.
Date of creation: 2001
Date of revision:
Publication status: Published in: International Economic Journal (2001) v.15,p.1-24
Other versions of this item:
- Wasmer Etienne & Weil Philippe, 2001. "Credit Markets and Unemployment in the Short Run and in the Long Run," International Economic Journal, Taylor & Francis Journals, vol. 15(1), pages 1-19.
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