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 …

against lost household earnings by increasing labour supply. We find that both own and partner responses to the shock vary … worker effect' when their partner is exposed to the shock. By contrast, we find no such response for women, who do not … dissolution also differ according to the gender of those affected: for women below 45, but not men, exposure to the trade shock …