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This paper studies the long-term consequences on firms and workers of the credit crunch triggered by the 2007-2008 global financial crisis. Relying on a unique matched bank-employer-employee administrative dataset, we construct a firm-specific credit supply shock and examine firms’ and...
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between the three core labor force states, employment, unemployment, and inactivity. The dynamics of these transitions depend … Germany, all demographic cells are almost entirely detached from the cycle. Women are less influenced by the cycle in their re-employment … rate from unemployment to employment. -- Labor force ; unemployment dynamics ; business cycle ; worker heterogeneity …
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