the effects of an immigration shock on labor demand by testing a general equilibrium model in which imperfectly … substitutable native and immigrant workers spend their wages on a locally produced good. The shock induces three responses: (i) a … can fall, stay the same or rise, depending upon the strength of the shock and various product and factor market …

lead to man-cessions, i.e. employment falls and more strongly so for men. By contrast, an expansionary fiscal shock …

shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …

test for cointegrating relationships corresponding to the patterns predicted by theory. We confirm episodes of expansion of …

business cycle. Theory is ambiguous and prior literature is not fully conclusive. We examine the relationship between multiple …

in endogenous growth theory, but modified to allow for demand-side constraints. This is a novel approach, given that …